Tesla vs Mahindra: Anand Mahindra has a 'maniac' plan to counter Elon Musk's entry into India
Anand Mahindra, Chairman of Mahindra Group, expressed confidence in his company's ability to compete with Tesla if it enters the Indian electric vehicle (EV) market. He referenced the influx of foreign automakers after India's economic liberalization in 1991. Companies like Daewoo, Ford, General Motors, and Hyundai brought new technologies and designs. Mahindra noted his company survived that competition.
Trump-Modi Meet
The mega MIGA, MAGA plans of India's Modi and US' Trump
Trump says India has more tariffs than others
Trump's 'golden rule' for imposing reciprocal tariffs
Mahindra prepared for EV competition
Mahindra Group Chairman Anand Mahindra has said the company is ready to face competition from Tesla if the American EV maker enters the Indian market. Responding to a query on social media platform X, Mahindra referred to past challenges the company has overcome in a competitive market.
Drawing from history
Mahindra recalled that similar concerns were raised when the Indian economy opened to foreign investments in 1991. At that time, global automobile brands like Daewoo, Ford, General Motors, and Hyundai introduced new technologies and designs in India. However, Mahindra remained resilient in the industry.
«We have been asked similar questions ever since the opening up of the Indian economy in 1991. How will you compete against Tata, Maruti, and all MNCs? But we're still around,» Mahindra stated.
Commitment to long-term growth
Mahindra emphasized that the company has not only survived but continues to work
Read more on economictimes.indiatimes.com
