The three units come close on the heels of the Union Cabinet approving proposal for investment of $15.14 billion.
Due to the semi conductor shortage, MG Motor India's retail sales dipped by 24% to 2,863 units in October amid production challenges
India’s semiconductor import is expected to reach $100 billion by 2025.
According to the Federation of Automobile Dealers Association (FADA), vehicle retail sales have declined by 5.7% in September 2021
The new scheme envisages financial and infrastructure support for Indian MSMEs and startups right from the ideation stage to production stage