Auto Stocks Fall as India Considers Easing EV Import Rules

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Tata Motors, Mahindra & Mahindra, and Hyundai Motor India fell up to 6% on February 21 amid reports that the government may relax EV import norms, intensifying competition for Indian automakers. Tesla is likely to enter India through direct imports. Meanwhile, Nifty Auto index dropped 2.5%, reflecting market concerns over policy shifts.