EVs on the charge! Hyundai Ioniq 5 outsells 2023 target in 9 months, OEM prepares for some “catching up” in the EV game
The Korean major, the second biggest in India’s car market, didn’t quite anticipate the current growth trajectory of the Indian electric passenger vehicle market. However, it wants to accelerate things to tap the EV megatrend better, with localisation as the key mantra. Much of the INR 20,000 crore new investment in Tamil Nadu will go for the localisation of battery packs.
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