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EV MARKET IN INDIA

India is projected to become the world's fourth-largest electric car manufacturer by 2030, with a planned capacity of 2.5 million units annually. A Rhodium Group report notes this will outpace domestic demand, creating export potential. However, India must significantly reduce costs to compete with market leader China on the global stage.

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According to a report by the New York-based think tank Rhodium Group, India is on a trajectory to become the world's fourth-largest electric car manufacturer by 2030.

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