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India’s largest carmaker will sharply cut production of its first EV—the e-Vitara—in the first half of FY26.

The automaker that virtually created India’s electric car market is forced to offer record discounts, even as rivals surge and competition is set to get fiercer.
A revival in small-car sales has restored the automaker’s advantage, but tougher fuel-efficiency norms threaten to turn its greatest strength into a liability.
India’s largest two-wheeler maker has seen a stock surge on the back of macro tailwinds, an EV push, a credible export strategy and renewed investor faith. Proving that this rally isn’t just a festive-season fling will be the real test.