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Asia-Pacific electric vehicle polymers market is projected to surge at a CAGR of 31.61% in revenue during 2019-2028. India, China, Australia & New Zealand, Japan, ASEAN countries, South Korea, and Rest of APAC form the market in this region.
China has shown the highest growth in the regional market for electric vehicles. The continual rise in air pollution has caused health risks to rise in many cities. In such a scenario, China has attained the benefit of having massive manufacturing capacity and advanced technology to dictate the electric vehicle sector.
This, in turn, displays its dominance over the electric vehicle polymers market. Many auto manufacturers are planning to invest in the Chinese market owing to the strong demand for electric vehicles, thereby boosting the EV polymers market s advancement.
Tesla, Inc. (NASDAQ: TSLA), which is gearing up to sell electric vehicles in India, is laying the groundwork for the international expansion. What Happened: The U.S. EV giant is in exploratory talks with Tata Power regarding charging infrastructure, a CNBC-TV18 report said. Tata Power is India's largest integrated power company headquartered in Mumbai, Maharashtra. Talks between Tesla and Tata Power are in the initial stages, and no agreement has been reached as of yet, the report said. Tesla is initially planning to open two to three sales outlets as part of its India foray, the report added. Related Link: How Bitcoin, Demand Are Driving Tesla Shares Lower The chief minister of the Indian state of Karnataka said last month that Tesla will establish its manufacturing base in the state. In January, Tesla registered its office as Tesla Motors India & Energy Pvt Ltd, in Bangalore, the capital city of Karnataka, and also named three directors. Why It's Important: Electric ve
Tesla Inc is exploring an arrangement with Indian conglomerate Tata Sons' power generation unit, Tata Power, to set up charging infrastructure for electric vehicles in the country, CNBC-TV18 reported on Friday, citing sources. Shares of Tata Power rose 5.5% to their best closing level since June 2014 after the report, which comes as the Palo Alto-based electric-car maker gears up for an India launch later this year with plans to import and sell its Model 3 electric sedan. Tesla will set up an electric-car manufacturing unit in the southern Indian state of Karnataka, according to a government document seen by Reuters.