Similar to the invention of the airplane, the emergence of automobiles has had a profound effect on our everyday lives. According to Mr Guillaume Sicard, president, Nissan India Operations, the income tax fee lower from 10 per cent to five per cent for individual tax payers incomes under Rs 5 lakh (US$ 7,472) per annum will create a positive sentiment among likely first time consumers for entry level and small cars.
Authorities of India aims to make automobiles manufacturing the main driver of ‘Make in India’ initiative, as it expects passenger autos market to triple to 9.4 million items by 2026, as highlighted within the Auto Mission Plan (AMP) 2016-26.
Ford Motor Co. plans to invest Rs 1,300 crore (US$ 195 million) to build a global expertise and business centre in Chennai, which will be designed as a hub for product growth, mobility solutions and business services for India and different markets.
The gasoline engine was initially chosen for automobiles as a result of it may function more flexibly over a wide range of speeds, and the ability developed for a given weight engine was reasonable; it could be produced by economical mass-manufacturing strategies; and it used a readily available, reasonably priced gasoline.
India to emerge as a leader in the two-wheeler and four-wheeler xEV market in the world by 2020, with whole xEV gross sales of 6-7 million items thus enabling the Indian automotive trade to attain global xEV manufacturing leadership and contributing in the direction of national fuel security.