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Electric vehicles to drive auto capex up by Rs 70630 crore in 5 yearss – Business Standard

Topics
Electric Vehicles | Auto components industry | Electric Vehicle
Shally Seth Mohile  |  Mumbai 
https://mybs.in/2awFMDM

Automobile manufacturers, new and old, as well as ancillary suppliers are set to spend a combined Rs 70,630 crore over the next five years on either entering the segment or stepping up their presence in it. Data culled from announcements made by firms shows India, the world’s fifth largest automobile market, is poised to receive one of the biggest capex pushes ever to fuel the transition from internal combustion engines to electric motors and batteries as part of a green drive.
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