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Friday, September 17, 2021

Any duty cut to help EV market: M&M MD-CEO

Mahindra & Mahindra Managing Director and CEO Anish Shah said on Friday any cut in duties will help the electric vehicle (EV) market.

By: ENS Economic Bureau | New Delhi |
August 7, 2021 1:44:32 am
Mahindra & Mahindra Managing Director and CEO Anish Shah.

Mahindra & Mahindra Managing Director and CEO Anish Shah said on Friday any cut in duties will help the electric vehicle (EV) market.

On being asked if the cut in duties on electric cars would help the segment as has been demanded by Tesla, Shah was quoted by PTI as saying: “Any cut in duties will help markets, there is a lot which can done on the GST side as well and our sense is that government is moving prudently and we will see a set of policies which will make sense for the EV segment.”

Mahindra & Mahindra on Friday reported a consolidated profit after tax from continuing operations at Rs 424 crore for the first quarter ended June 2021.

On a query regarding taking a price hike, he added the company has increased prices with effect from July in order to offset the impact of rising commodity prices.

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