Automakers to invest $10 billion for enhancing EV manufacturing capacity

In a bid to provide a stronger push to electric vehicle (EV) manufacturing in the country, Indian automakers are considering making investments of around $10 billion or Rs 80,000 crore, a report published by The Economic Times (ET) said. The investment will be made to build a robust infrastructure for the EV ecosystem.

The development has come at a time when EVs are gathering attraction around the world. The governments are also supporting the switch from pure internal combustion engines to battery-powered vehicles.