The second advantage for incumbents, at least in India, is they have a long history of after sales for their existing vehicles and that has to translate to the EV as well.
US debt crisis fuels de-dollarisation talk; may boost emerging markets: Puneet Pal
The growing U.S. debt and fiscal deficits are sparking de-dollarisation conversations, potentially benefiting emerging markets like India. While immediate outflows from U.S. bonds are limited,