26 C Automobile / The Economic Times
Indian cricket legend Mahendra Singh Dhoni has been appointed as the brand ambassador for French carmaker Citroen in India, as per sources. The move aims to boost brand recognition for the Stellantis Group company in the competitive Indian market. Dhoni is set to represent the brand for two years, with an annual fee of Rs 7 crore, as revealed by the sources.
Tesla Inc. has reduced vehicle prices in China amidst stiff competition. Tesla had earlier introduced incentives in China to attract consumers, countering competition from BYD. Musk meanwhile deferred his India visit, which was aimed to tap into a new market amid declining sales and stock prices.
India has surpassed Japan to emerge as the third largest vehicle market in the world, a feat which no one would have thought possible a decade back, Volkswagens executive director, international sales, Michael Mayer, said.
The Indian government has launched a new scheme to boost electric vehicle manufacturing, aiming to attract foreign investments and boosting Tesla's plans to enter India for local production. With a minimum investment requirement of Rs 4,150 crore, the policy seeks to position India as a leading hub for advanced EV technology production.