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Persons: Samantha Harney, Trevor didn't, I've, Trevor, he'd, Memorial Hermann, Taylor, Manish Shah, Dr, Shah, he's, He's Organizations: Service, Memorial Hermann Hospital, Business, Memorial Locations: Houston
Mahindra Group isn't worried about global players like Tesla entering India's highly competitive electric vehicle market, its CEO and managing director Anish Shah told CNBC. So Tesla or anyone else coming in does not faze us," Shah said on "Street Signs Asia" Tuesday. "At one point, Mahindra was written off when all the global majors were coming into India. Tesla is reportedly discussing plans to enter the EV space in India, which is the world's third-largest auto market, according to Reuters. CEO Elon Musk met Prime Minister Narendra Modi in June and said he has plans to "make significant investments in India."
Persons: Tesla, Anish Shah, We've, Shah, Elon Musk, Narendra Modi Organizations: Mahindra, isn't, CNBC, Reuters Locations: India
Mahindra Group CEO discusses its EV strategy
  + stars: | 2023-08-08 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMahindra Group CEO discusses its EV strategyAnish Shah, managing director and CEO of Mahindra Group, discusses what the company is doing when it comes to the sustainability credibility of electric vehicles.
Persons: Anish Shah Organizations: Mahindra, Mahindra Group
But India does shine out among the world's biggest economies, with Europe hovering on the brink of potential recession and U.S. growth slowing. "It's for the whole digital India, and creating a digital society in India," Ekholm told CNBC. watch nowIndia, he continued, "will very shortly have the best digital infrastructure outside of China," driven by telecoms juggernauts Bharti Airtel and Jio, he added. Strong tailwinds"We are very optimistic and very positive on India," the chief executive of Tata Consultancy Services, Rajesh Gopinathan, told CNBC. As Anish Shah, chief executive of Mahindra Group, told CNBC: "India will get impacted.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMahindra Group expects Indian EV adoption of 25% in the next five years, CEO saysDespite only being around 1% today, Anish Shah, chief executive officer of India's Mahindra Group, says the company expects a rapid increase in EV adoption before it reaches an inflection point.
“I don’t see us launching in the U.S. in the next five years,” Anish Shah, Mahindra’s CEO and managing director, said Tuesday in an interview. A U.S. market entry “could likely be longer than five years because we have to win in some of our key markets first,” including Europe, he added. “We are in the process of doubling our capacity” in part to fulfill demand in the Indian market, Shah said. Much of the new capacity is earmarked for electric vehicles, he said. Mahindra in August unveiled a portfolio of five future electric SUVs, the first of which is slated to go into production in January.
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