Cos in talks to invest over $4 billion in auto sector

NEW DELHI: A day after Ford announced its exit from India, the government said there were over a dozen entities — existing players as well as new entities — looking to invest upwards of $4 billion in the automobile sector, which will provide a further thrust to domestic production and job creation.
While companies such as Skoda Auto Volkswagen have announced an expansion of their operations, with investments of over $850 million (around Rs 6,250 crore), others such as Kinetic Green Energy are looking to invest $300 million (around Rs 2,200 crore) in the electric mobility space, official sources said.
Others such as C4V, a lithium-ion battery technology company, is investing over Rs 4,000 crore, while Japanese electric manufacturer Nidec too is evaluating an investment of over $200 million.
Besides, Oman’s Bahwan International Holdings has held talks with the government for a…

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