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Mahindra Seeks Local Partner for EVs in China
India’s Mahindra & Mahindra Ltd. is shopping for a local partner to help its make and sell electric vehicles in China.
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India’s Mahindra & Mahindra Ltd. is shopping for a local partner to help its make and sell electric vehicles in China.
Arvind Mathew, who heads Mahindra’s Reva Electric Vehicles unit, tells Bloomberg News the Chinese EV market is especially attractive because it sells a broad range of electrified cars, buses and two- and three-wheelers.
Like other foreign carmakers, Mahindra needs a local partner to avoid China’s 25% import duties. Domestically produced EVs also would qualify for the country’s hefty government incentives. Analysts tell Bloomberg Mahindra also needs to learn the Chinese EV market because local producers there eventually will enter the Indian market.
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