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The government’s policy push in favour of electric vehicles has come at a time when automobile and oil industries are investing over Rs 88,000 crore in meeting the fuel emission norms. Apart from this, automobile firms are also gearing up to comply with the fuel efficiency norms, bringing into question the viability of these investment if electric vehicles are the way forward.
The future of investment in oil refineries -- whether it’s their upgrade to meet the fuel quality standards or expansion -- is bleaker than that in automobile companies.
“The worry is that if the automotive fuel market is
