Magenta Managing Director Maxson Lewis said while there is a growing intent for e-commerce companies to move towards electric mobility, they need a complete solution and an ecosystem view.
The ruling left-wing coalition plans to use a chunk of the 140 billion euros ($166 billion) Spain is set to receive from the EU’s pandemic recovery plan to kickstart its electric car industry
The company also lifted cover on its South Korean arm SsangYong's G4 Rexton SUV, which will be launched in the Indian market later this year under the Mahindra badging.
A lack of necessary infrastructure and the question of affordability may hamper the growth of electric cars in India.
The announcement comes days after a government think-tank released a policy blueprint favouring electric vehicles, which could influence a new green car policy.
India's ambitious plan to push electric vehicles could benefit Chinese car makers seeking to enter the market, but is worrying automakers here who have so far focused on making hybrid models.