The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Amyn Pirani - JPMorgan Chase & Co, Research Division - Analyst
: Just wanted to go back to the other expense line item. I mean you had some very attractive financing thing in 3Q and I think in 4Q as well, is the
sharp increase, to some extent, to do with the kind of subvention you may have had to give? Or is it just quarter-on-quarter thing that we should
not really focus too much on?
Question: Amyn Pirani - JPMorgan Chase & Co, Research Division - Analyst
: And what is the financing share for fourth quarter? And as you are seeing this improvement in retail, I mean is there any sharp shifts either ways?
And I mean, how do you think this number could move during the year?
Question: Pramod Amthe - Incred Research Services Private Limited - Analyst
: The question which I have is, you are still chasing the new capacity creation, whereas industry has been sliding for some time. What is the rationale
to still keep on adding the new capacity? Is it more of a geographical balance which you're trying to achieve? That's the first question.
Secondly, with regard to the same, how do you see the capacity creation for EVs, especially when we look at the overall 2-wheeler industry, it seems
to be sitting with a lot of idle capacity. And still, it is trying to chase the capacity when the (inaudible) to add up capacity. What is you are looking
at, is it -- as an industry player, how is that operating deleverage versus, say, incentive when you look at on the table, does it still make sense to
change the capacity for EVs?
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