58. The new automobile market is an example of
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In January 2020, Tata AutoComp Systems, the auto-components arm of Tata Group entered a joint venture with Beijing-based Prestolite Electric to enter the electric vehicle (EV) components market. In December 2019, Force Motors planned to invest Rs. 600 crore (US$ 85.85 million) to develop two new models over the next two years.
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oligopoly
Introduction. The US automobile industry is a good example of an oligopoly. It consists mainly of three major firms, General Motors (GM), Ford, and Chrysler. The influence of this oligopoly can be seen in the prices and the development and introduction of new car models into the American car market.
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