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Hyundai, Mahindra, 6 others likely to face emission penalties of Rs 7,300 crore

The article from The Indian Express discusses how eight major automotive companies, including Hyundai, Mahindra & Mahindra, and others, are likely to face penalties totaling around Rs 7,300 crore for failing to meet the Corporate Average Fuel Efficiency (CAFE) norms set by the Indian government for the fiscal year 2023. These norms, which aim to reduce vehicle emissions, require manufacturers to ensure their fleet's average fuel efficiency does not exceed a specified limit. The penalties are calculated based on the excess CO2 emissions over the mandated limit, with the fines escalating if the excess is more than 0.2 liters per 100 km. The article highlights that while some companies like Maruti Suzuki and Tata Motors have managed to comply, others have not, leading to significant financial repercussions. This situation underscores the challenges manufacturers face in transitioning to more fuel-efficient and environmentally friendly technologies amidst regulatory pressures.

Read the Full The Indian Express Article at [ https://indianexpress.com/article/business/hyundai-mm-6-others-likely-to-face-emission-penalties-of-rs-7300-crore-9694105/ ]