Mumbai, February 27: A part of Volkswagen group, Porsche, made an announcement that it is likely to launch electric vehicles in India by early 2020. The e-Cars will be launched globally by 2019.
In 2016, the company sold 401 units in India, which went up to 434 cars in 2017 (Jan-Dec).
"We are expecting a stable growth in the country as it is difficult to judge the external conditions like exchange rate fluctuations," he said.
Shetty said post Goods and Services Tax (GST), effective tax rates had gone up for some of its models while for the others, it remained the same.
In the luxury segment, which also includes the super luxury brands, Porsche has a market share between 1.2 and 1.5 per cent, he said.
Giant automotive manufacturer Volkswagen has been roiled by its "Dieselgate" emissions scandal that has inflicted about $30 billion in costs and fines just as it pushes billions of euros of investment into electric and self-driving cars.