The Indian Express (Delhi Edition)
‘Tata Motors plans JLR EV imports under new policy’
DEEPAK PAREKH has decided to step down as the Chairman and Non-executive Director of the HDFC Life Insurance Company with effect from April 18.
The board on Thursday unanimously approved the appointment of Keki M Mistry as the Chairman of the board. Mistry has been associated with the companysincedecember2000andis currently a Non-executive Director on the board.
“Being the founder Chairman of our company, Parekh has been instrumental in guiding and nurturing the company over the past 24 years. We thank Parekh for the immense contributions made by him,”thecompanysaidinastatement. Parekh was the Chairman of HDFC Ltd which merged with HDFC Bank a year ago.
TATA MOTORS plans to import its Jaguar Land Rover (JLR) luxury electric cars under a new government policy that lowers import taxes for companies agreeing to set up local manufacturing, two government sources said.
Tesla is also expected to start importing its cars to India and make an investment in the country,reutershasreported,buttata’s plan if realised would make it the first local carmaker to opt for the policy designed to increase use of electricvehicles.atataspokespersondeclinedtocommentonwhat it said was speculation.
The policy announced in March cuts import taxes to 15 per
Reuters File cent from as high as 100 per cent on some EV models if a carmaker invests at least $500 million and sets up a domestic factory within three years. Tata had originally pressed the government not to lower duties to protect the domestic industry.
Now, Tata and JLR are discussingthepossibilityofapplying forincentivesundertheevpolicy, said a third source aware of the company’s plans, adding that deliberations are at an early stage.
“Tata wants to import JLR (EVS) under this new policy,” said one of the two government sources, who declined to be named as the company plans are confidential.whiletataisfirming up plans to import JLR EVS from the United Kingdom, it is also planning to manufacture JLR cars at a planned $1 billion plant in Tamil Nadu. It remains unclear which JLR cars Tata will make there. Tata dominates India’s EV market. Electric models made up about 2 per cent of total car sales in 2023, with the government targeting 30 per cent by 2030, even as demand in key markets such as the United States and China is slowing.