Indian Economy

Echoing sentiments shared by enthusiasts worldwide, Musk emphasized the growing significance of electric vehicles (EVs) in India's automotive future. Recent reports have hinted at Tesla's endeavors to establish a dedicated EV manufacturing facility in India, with a proposed investment ranging from $2 to $3 billion. States such as Gujarat, Maharashtra, and Tamil Nadu have emerged as prime contenders for hosting Tesla's manufacturing operations, aimed not only at catering to the domestic market but also facilitating exports.

Fans eagerly expressed their anticipation, with one X user eagerly commenting, "Wow, can’t wait to see a Tesla without a steering wheel." Another enthusiast speculated on the possibility of both the compact car and the Robotaxi being revealed simultaneously, urging against any potential delays in their production.

The Korea Automobile Importers & Distributors Association disclosed that the count of newly registered imported cars stood at 25,263 units in March, showing a 6 percent increase from 23,840 units recorded in the corresponding period last year.

The passenger vehicle segment experienced a notable growth of 12 percent, reaching 330,107 units compared to 293,803 units in February 2023. Manish Raj Singhania, President of the Federation of Automobile Dealers Associations (FADA), attributed this surge to the strategic launch of new products and improved vehicle availability.

The recall pertains to specific models, including the 2003-2004 Corolla, 2003-2004 Corolla Matrix, and the 2004-2005 RAV4 vehicles. Toyota emphasized the urgency of the airbag safety recall, highlighting that the age of these vehicles increases the likelihood of the airbag deploying with an increased risk of explosion, projecting sharp metal fragments that could result in severe injury or even fatalities, according to a statement released by the company.

IDA prioritizes tasks such as executing vehicle functions, searching for destinations, or adjusting the temperature based on user commands. If the system cannot fulfill a request, it anonymously forwards the query to the AI, and the familiar Volkswagen voice responds.

Reports say that the world’s richest man is set to arrive in India during the ‘Vibrant Gujarat Global Summit’ on January 10-12 as Gujarat, with its strategic location and favourable business environment, has emerged as the "preferred destination for Tesla’s manufacturing plans".

Introducing two electric vehicles, the XiaomiSU7 and XiaomiSU7Max, the company marked this milestone by expressing the significance of XiaomiSU7's debut in extending their expertise from smartphones to the automotive domain.

Mahindra & Mahindra, on December 6, stated that it would increase the prices of its passenger and commercial vehicles, while Maruti Suzuki announced on November 27 that it would raise car prices from January 2024.

This announcement follows a similar move by Maruti Suzuki, India's leading carmaker, which declared last week that it would increase the prices of its cars from January 2024.