Bajaj Auto
The automaker Bajaj Auto launched its much-awaited RE60 quadricycle ‘Qute’ at a Free-on-Board (FoB) price tag of $2,000 (around Rs. 1.35 lakh). The vehicle is meant only for export markets for now, as the regulations for India are not yet in place because of an ongoing Public Interest Litigation (PIL) in the Supreme Court. Here, FoB refers to terms requiring the seller to deliver goods on board a vessel designated by the buyer. Depending on the duties and taxes of each country, the price will differ in each market.