Nifty Auto index stocks: Will they lead the next leg of rally in markets?

Just yesterday, there was a new report which said that a new age edtech company has been in the headlines recently for all the wrong reasons and saw its valuation being written down to US dollar 3 billion from a high of US $ 50 two year ago had actually raised US $ 5 billion since the time it has been raising funds. How relevant is this to an auto industry? It is, because it shows that getting valued at one level is very different from real cash in the company and even more than free cash with the company. The war of transition from ICE to EV will be finally fought with the cash and the winner or probably winners in different segments will be decided by both cash and ability of the management. And who has it most, old companies which have seen many economic cycles in last three decades.