Indian passenger vehicle makers eye opportunity in UK's EV market via FTA
India, June 22 -- Domestic automakers Maruti Suzuki, Mahindra & Mahindra and Tata Motors Passenger Vehicles are looking to tap opportunities in the electric car segment in the UK, as India's free trade pact with the country will allow duty-free exports for specified price segments under a quota system.
As per the India-UK CETA document, released last week, India will get access to the UK's electric, hybrid/hydrogen passenger cars segment, with duty-free exports to that country from the sixth year in the price segment ranging from under GBP 20,000 to 80,000, with the total quota reaching a peak of 88,000 units from the 15th year and continuing in the subsequent years.
The free trade agreement (FTA) between the two countries, which is exp...
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