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Global electrification, previously driven by strong electric vehicle sales, is now showing signs of growth moderation despite supply chain normalisation and price reductions by OEMs, as per a report by JM Financial Institutional Securities. Global automakers like Mercedes, Ford, GM, VW are scaling back EV investments and turning towards hybrids due to shifting consumer preferences and challenges like inadequacy and slow pace of charging infrastructure expansion. We believe the situation is no different in India, the analysts said.
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