Investor Rakesh Jhunjhunwala on India’s electric vehicle market

Indian billionaire investor Rakesh Jhunjhunwala is betting on automaker Tata Motors as one of the winners of India’s growing electric vehicle market.

“I think the biggest and the best player in electric cars in India is going to be Tata Motors,” Jhunjhunwala told CNBC’s “Street Signs Asia,” on Tuesday.

“I am a large shareholder of Tata Motors. I am playing the EV story through Tata Motors,” the investor said.

He explained that valuation will not ultimately decide who will win the race for electric vehicles. Instead, large companies that have manufacturing and investment capabilities, distribution channels, production experience and the ability to design good cars are eventually going to…