EV Parts Makers See India Viable

News Snapshot:

With the US threat of trade war imposing hefty tariffs on Chinese imports, China-based foreign electronic vehicle (EV) component makers are learnt to have intended to shift their base to India and other emerging EV markets alike soon, while at the same time India is ready to accommodate their businesses in the country. The government is also willing to expand its base on EV equipment makers to boost production capacity in India and cut dependency from China as well, a government source said on Sunday.The development comes amid China’s move to restrict the supply of the magnets, essential for traction...