The US is racing to be part of an industry that hasn’t yet proved itself to be safe for the environment or good for business. India needs to wait and watch.
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Indian electric vehicle manufacturers are in for near-term disruption as China puts restrictions on the supply of rare-earth materials to the world.
With three promoters—Reliance, Shapoorji Pallonji Group and the Daruvala family—the EPC firm is already treading on thin ice. The prospect of a disagreement or distress sale upsetting the delicate balance is a constant worry for investors.
Armed with a war chest, the energy business of the JSW Group plans to duke it out, but in a way that’s uncharacteristic of India’s renewables sector.