Mercedes Benz said it will begin car assembly soon in India, while Tata Group has set up a new fintech company.
Tesla still faces challenges in India
According to Reuters, Tesla founder Elon Musk said on Twitter last Thursday that the EV maker is still "working through a lot of challenge with the government" in India, when asked when Tesla is going to launch their vehicles in India.
Mercedes-Benz will assemble EVs locally in India
According to The Economic Times, Mercedes Benz said it will start assembling electric cars in India. The decision will lead to much lower import taxes on the German carmaker's vehicles, who entered India's EV market in 2020.
PLI for cars attracted more than a hundred applicants
According to Business Standard, India's PLI subsidies for automobiles and auto parts, with a budget outlay of INR259.4 billion (US$3.5 billion), attracted 115 applications.
Tata to rival Amazon with new financial entity Tata Fintech
According to The Economic Times, Tata Digital has set up a new entity to offer a wide range of financial products and services. The new entity, Tata Fintech, has hired many senior talents with digital and financial backgrounds and is expected to compete with Amazon and Reliance in the digital finance segment in India.
Adani's ANIL focuses on hydrogen and green energy generation
According to Business Standard, Adani Group's new subsidiary targeting hydrogen energy projects, ANIL, will manufacture solar modules, batteries, and electrolyzers; it will aim to generate 45GW of renewable energy by 2030.
Article translated by Yusin Hu
