Soaring fuel costs and its expected scarce availability in the future has led utility vehicle market leader Mahindra & Mahindra to explore opportunities in the unconventional space powering new vehicles, such as sports utility vehicles (SUV) and mini cars.
The Mumbai-based company is simultaneously working on concepts such as full hybrids, battery-powered powertrains, bio-diesel, fuel-cells and hydrogen-powered engines.
An expected drop in sales may prompt Mahindra & Mahindra to cut scheduled capacity expansion plans, if the government goes ahead with the imposition of additional tax on diesel vehicles, according to the country’s biggest maker of sports utility vehicles.
M&M president (automotive and farm equipment sectors) Pawan Goenka on Tuesday said that the city-based company would be “affected like anybody else” if the diesel tax comes in
Automobile companies based in India, both homegrown and foreign brands now based here, are opposing the provisions on their sector in the proposed India-European Union free trade agreement (FTA).
