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EV trajectory: Electric car sales may cross 7% penetration by FY28, says CareEdge report; hinges on rare earth supply, infrastructure
Electric car sales in India are expected to rise. CareEdge Advisory projects over 7% sales by FY28. This depends on resolving rare earth element supply issues. New models and charging infrastructure are growing. Government's PLI scheme supports battery production. Electric car ecosystem has grown rapidly. Policy support and reduced costs will boost EV adoption in India.
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