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Not linked to UP's new vehicle policy: Mahindra on XUV 700 price cut
The Business Guardian
|July 14, 2024
The Uttar Pradesh government’s hybrid vehicle policy has no connection with Mahindra and Mahindra’s decision to cut down the price of its popular SUV model, the XUV 700, the company said on Wednesday, 10 July.
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In a regulatory filing, Mahindra and Mahindra said, “We wish to inform the stock exchanges that there is no linkage between the price cut on certain XUV700 variants and UP EV/hybrid policy as reported by some media.”
The Bharatiya Janata Party government in Uttar Pradesh a day ago announced a waiver of road tax on hybrid cars. This policy aims to encourage the adoption of greener vehicles and reduce the environmental impact of traditional gasoline and diesel-powered cars.
This story is from the July 14, 2024 edition of The Business Guardian.
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