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India opens new application window to invite global EV manufacturers
In a push to promote electric vehicle manufacturing in India, a new portal has been launched for the application process under the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI).
The initiative, unveiled by Union Heavy Industries Minister H D Kumaraswamy, invites global electric vehicle (EV) manufacturers to invest and set up local production units. 'The launch of this portal under the SPMEPCI scheme opens new avenues for global electric vehicle manufacturers to invest in India's rapidly evolving automotive landscape,' Kumaraswamy said.
Investment from international EV makers can position India as a leading manufacturing hub for electric vehicles. 'This scheme not only supports our national commitment to achieving Net Zero by 2070, but also reinforces our resolve to build a sustainable, innovation-driven economy. It strengthens the pillars of 'Make in India' and 'Aatmanirbhar Bharat', and positions India as a trusted global hub for next-generation automotive manufacturing and technology leadership,' the minister said.
Reliefs linked to investment pledge under SPMEPCI
Approved applicants will be allowed to import Completely Built Units (CBUs) of electric four-wheelers (e-4Ws).
The imported CBUs must have a minimum CIF (Cost, Insurance, and Freight) value of $35,000.
These will be subject to a reduced customs duty of 15 per cent.
The concessional duty will be applicable for a period of five years from the date of approval.
Approved applicants will be required to make a minimum investment of ₹4,150 crore, as per the provisions of the scheme.
Tesla stays away, others join in
With the minimum investment threshold of ₹4,150 crore, the scheme is expected to encourage top global and Indian companies to set up long-term manufacturing in India.
While Tesla Inc has not shown interest in India's scheme to attract global investment in electric vehicle (EV) manufacturing, global automakers such as Mercedes-Benz, Škoda Auto Volkswagen, Hyundai Motor, and Kia Motors are keen to participate, Kumaraswamy said.
Embassies tapped to boost EV drive
India is reaching out to countries like the US, Germany, Czechoslovakia, and Vietnam, as well as their respective embassies, to attract investment from global automotive companies to manufacture electric vehicles in India. A four-month window will be given for these companies to apply for SPMEPCI. As of now, Tesla has not shown interest in participating in the scheme. 'Ultimately, we will know which global automakers come on board by October 21,' said Kamran Rizvi, secretary of the Ministry of Heavy Industries.
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