Heavy demand in auto sector, car companies will invest Rs 65,000 crore to increase production

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Rohan Kanwar Gupta, vice-president and area head, company scores, ICRA, mentioned OEMs are additionally budgeting for substantial spending on new product launches. This consists of growth of capability/dedicated platforms for electrical autos. With this, OEMs can spend greater than Rs 65,000 crore between the monetary years 2022-23 to 2024-25. He mentioned that a number of OEMs have already introduced a complete outlay of over Rs 250 billion to develop manufacturing capability within the subsequent few monetary years.

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