The cuts could fuel investor worries that demand for the Model 3 in the United States has tailed off after a large tax break for consumers expired last year and the car remains too expensive for most consumers.

Finance Minister Piyush Goyal added that a national AI portal will be developed soon.

Nissan said on Wednesday it sold 5.65 million vehicles last year, down 2.8 per cent on the year.

Kia Motors is in the final stages of commissioning the manufacturing facility with an annual installed production capacity of over 3 lakh vehicles