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Whenever there is a mention of technology and advancement, the topic would remain incomplete if India’s contribution in the sector is not discussed. No matter the technological field, India is considered to have played a role in the advancement of the industry.
As the world moves towards advancements in the automobile sector, the majority of the car manufacturing giants are going eco-friendly and trying their best to gain supremacy in the electric car sector.
At present, the company that has the lead in the electric car manufacturing sector is none other than Tesla. Tesla currently conquers the entire electric vehicle sector in the United States and is now attempting to reach out to the largest electric car markets in the world.
Recently, it was reported that Tesla has started producing its cars for China through a plant that it was launched in the country. China is considered to be the largest electric car market in the entire world and having a footing in the region means gaining success in East Asia.
After that, it was revealed that Tesla is planning to expand its services in India as well. However, the multi-national car manufacturing company that is from India has started feeling overwhelmed by Tesla. Therefore, the company has started working on electric car projects to ensure that it is able to compete with Tesla when it launches in India.
Following the recent developments in the country in terms of electric cars, Rakesh Jhunjhunwala states he will be supporting Tata Motors. The multi-billionaire investor from India has stated that he is betting that Tata Motors will become the best and the largest electric car manufacturer in India.
Jhunjhunwala made this prediction during an interview at CNBC on February 23, 2021. Rakesh told the CNBC network representatives that when it comes to investing in the most successful EV Company in India, it is Tata Motors.
The billionaire stated that he already has a large investment made in Tata Motors due to the same reason. He stated that it is not going to be valuation playing the key role in this race, it is going to be much more elements than that.
Rakesh stated that the winners of the EV race in India would be determined on the basis of a number of factors. Some of the factors include production experience, distribution channels, ability to design good cars, capabilities for investing and manufacturing.
Rakesh clarified that these would be the elements that would play a huge role in determining the winner of the race for EV cars in India.
As per Rakesh, there are three companies that are likely to emerge as the top electric car manufactures that are Volkswagen, Tata Motors, and Mercedes.
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