The automotive ecosystem got a rude awakening when the rug of the import-laden supply chain was pulled from under its feet — first during the lockdown, and then due to rising geopolitical escalations.
Sales in domestic market stood at 420,376 units, a decline of 8% over that in Q4 FY21. However, the sales in the export market were at quarterly high of 68,454 units.
Vedanta will hold the majority of the equity in the JV, while Foxconn will be the minority shareholder.
The electric car concept shared by Ola Electric CEO Bhavish Aggarwal is a teaser of the design process for the company's next venture.
PV sales dropped 15% to 7,61,124 units in the third quarter, their lowest level in five years, says the Society of Indian Automobile Manufacturers (SIAM).
Few analysts observed that implementing the proposals of the scheme requires availability of advanced technology which is not available in the country.
