Latest news with #SPMEPCI
NDTV
14-07-2025
- Automotive
- NDTV
Tesla's India Journey: Unpacking The Delays, Deals, And Debut
Tesla is a brand of big expectations in the domain of electric mobility for the Indian market. After a long journey, the electric carmaker is making its formal entry to the Indian market on July 15, 2025. It is a result of strategic negotiations, policy shifts, and market preparation. Rumours have it that the company will be bringing the Tesla Model Y to the Indian market. But, how has the company reached this point of its landmark entry to the Indian shores? Let's delve deep into it. 2016-2021: Early Interest And Tariff Hurdles 2016: Tesla started accepting pre-orders for the Model 3 in the year 2016, indicating serious interest in the market. It was recently, in the year 2025 that the EV maker made the refunds for the bookings received for the Model 3 in 2016. 2017: Elon Musk publicly mentions the tax-based challenges, citing 100% import duties on luxury vehicles as a big hurdle to launching the Tesla brand in India. 2021: Tesla registers an entity in India - Tesla India Motors and Energy Private Limited, in Bengaluru, in January 2021. In fact, Union Minister for Road Transport and Highways - Nitin Gadkari, stated that Tesla would start operations in India in early 2021, via the CBU, without opting for a local assembly line. 2022-2023: Talks For Erecting $2 Billion Factory 2022: In January, Musk pointed fingers at India's 'very high import duties' further impeding Tesla's entry to the Indian market. The brand also kick-started the homologation process for four of its models in India, while extensively testing the Model 3. 2023: This year signalled a physical presence, as Tesla started hiring locally in Mumbai for a total of 13 roles. In addition, Tesla had explored plans for a $2 billion factory in Gujarat or Maharashtra, but by mid-2023, talks stalled due to high tariffs and India's push for local manufacturing-terms that Tesla wasn't ready to accept. 2024-2025: Policy Shift Opens Door March 2024: India announces the SPMEPCI policy, slashing import duties on EV CBUs priced above $35,000 to 15%, conditional on manufacturers investing at least Rs 4,150 crore ($500m) and commencing local production within 3 years, along with 25% domestic value addition within 3 years and 50% in 5 years. Annual import cap: 8,000 units for five years. Early-2025: Tesla ramps up recruitment for store managers, sales, service executives, and autopilot operations roles in Mumbai and Delhi, laying the groundwork for retail operations. Mid-2025: Policy details are finalised and registration windows open; multiple global OEMs, except Tesla, formally signal interest in the scheme. July 2025: Launch In Mumbai Tesla is now ready to inaugurate its first "experience centre" showroom in Mumbai's Bandra Kurla Complex and plans a second location in Delhi-NCR soon after. It is reported that Tesla will start its retail operations with the Model Y SUV. Reports also state that the documented price for the car is around Rs 27.7 lakh before duties. Each vehicle has attracted an additional Rs 21 lakh in import taxes, potentially pushing the final price north of Rs 50 lakh. Deliveries of the first batch of Model Y vehicles in India are expected to begin.
India Today
01-07-2025
- Automotive
- India Today
The foreign invasion: EVs made for India
(NOTE: This article was originally published in the India Today issue dated July 7, 2025)The newly announced incentive scheme for foreign carmakers to make EVs in India is about to get off the ground. According to government sources, a lot of carmakers have evinced interest in registering for the scheme. This includes some who are already present in the country as well as new companies taking the opportunity to establish a manufacturing base in India. But that does not mean there will be a long wait for new cars at lower prices, because once registered, these companies can start importing EVs at a duty of 15 per cent as opposed to 70 or 100 per cent as the case may be. The number of cars that can be imported at the incentivised rate is governed by the total amount the company is saving by paying duty at a lower rate. This amount can be equal to the total amount the company has invested under the scheme—the saving being capped at Rs 6,484 crore. Of course, there are a lot more stipulations and caveats to this and it is not as simple as it remains to be seen how many companies will finally avail this scheme (SPMEPCI) to promote manufacturing of passenger electric cars in India. It is almost certain that the one company that this scheme was tailor-made for will not be signing up for it, and will instead be going the CBU (completely built unit) route and paying the prevailing import duty. This may be because Tesla could be hoping for a lowering of tariffs once a bilateral trade agreement is signed between India and the US, or for that matter with any of the territories where it is already making its cars, like the EU. VinFast VF6 advertisementOther US companies that make EVs are also keenly eyeing the Indian market and awaiting the result of the negotiations and the signing of the trade deal before weighing the best route to enter India. Those that are closely watching the developments are new players like Lucid Motors and Rivian as well as the established players like Ford and General Motors. Automaker Stellantis has already announced plans to launch its Leapmotor brand of EVs in India while another new emerging EV player from Vietnam, VinFast, even before the launch of SPMEPCI, has made an investment of US $500 million (Rs 4,305.6 crore) to set up a manufacturing facility in Tamil Nadu and will be rolling out its India-made cars, the VF6 and VF7, in the country is not certain which routes the various EV companies will take but a number of new and established brands will be available soon in the country, and at much lower price to India Today Magazine- EndsTune InMust Watch
Hindustan Times
29-06-2025
- Automotive
- Hindustan Times
SPMEPCI scheme to attract foreign players to invest, bring EV portfolio to India: Mercedes-Benz India CEO
Mercedes-Benz sees a boost to the Indian electric vehicle industry with the SPMEPCI. (AP) Notify me The Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) will attract new foreign auto manufacturers to invest and bring their electric vehicle portfolio to the country, believes Mercedes-Benz India CEO and Managing Director Santosh Iyer. The German automaker that has been leading the electric vehicle segment in the Indian luxury car market with a wide range of products has introduced two new sports cars in the country, the AMG GT 63 4MATIC and GT 63 PRO 4MATIC Coupe, priced at ₹ 3 crore (ex-showroom) and ₹ 3.65 crore (ex-showroom), respectively. Speaking to PTI about the SPMEPCI, Iyer said that it is a great scheme and a great initiative by the Ministry of Heavy Industries (MHI). "I think it's a great scheme and a great initiative by the Ministry for Heavy Industries (MHI) to really come up with such a forward-looking scheme. But this scheme is primarily for new entrants who have not come into India," Iyer reportedly said. Also Read : Upcoming cars in India Under the SPMEPCI, automakers will be permitted to import up to 8,000 electric vehicles in India at a reduced duty rate of 15 per cent compared to the current 70-100 per cent, provided they commit to investing ₹ 4,150 crore in the local EV manufacturing industry. Speaking about Mercedes-Benz's investments in India, Iyer said that the company has invested ₹ 3,000 crore in the OEM's Chakan plant near Pune. 'Today, we are already producing two car models locally at this plant, much before the announcement of the scheme," he further said, while also adding, 'But I think this scheme will surely attract newer players, who are not yet in India, to invest and come with their electric cars." Meanwhile, speaking about the ongoing rare earth magnet crisis, which has hit the panic button in the Indian industry and is fuelling concerns about a possible shutdown in the coming months due to the unavailability of the critical component, Iyer said that in today's time, disruptions happen due to geopolitical issues or supply chain issues, but the company's colleagues involved in the backend are able to manage it quite well. "As of now, we have no disruption in India because of any of these issues," Iyer asserted. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 29 Jun 2025, 08:46 AM IST
Time of India
28-06-2025
- Automotive
- Time of India
SPMEPCI scheme to attract new global EV players to India: Mercedes-Benz India
The Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) will serve as a major catalyst for new foreign automakers to enter the Indian EV market, said Santosh Iyer, CEO and Managing Director of Mercedes-Benz India , on Friday. Speaking to PTI after unveiling two high-performance sportscars — the AMG GT 63 4MATIC+ and the AMG GT 63 PRO 4MATIC+ Coupe — Iyer welcomed the scheme, calling it a 'forward-looking initiative' by the Ministry of Heavy Industries . The two cars are priced at ₹3 crore and ₹3.65 crore (ex-showroom, India), respectively. 'The scheme is primarily designed for new entrants. We've been in India for three decades and have already invested ₹3,000 crore in our Chakan plant near Pune. We're producing two EVs locally even before the scheme was announced,' Iyer told PTI. 'For us, it's business as usual, but SPMEPCI will encourage new players to enter and invest in India's EV journey.' Under the SPMEPCI scheme , automakers committing ₹4,150 crore in local manufacturing will be allowed to import up to 8,000 electric vehicles at a concessional 15% import duty, significantly lower than the existing 70–100per cent. Supply chain challenges Addressing concerns around supply chain challenges and rare earth magnets, Iyer reassured that Mercedes-Benz has faced no disruptions in India so far, crediting its global backend teams for effective management. On the launch of the new AMG models, Iyer said these performance-oriented vehicles reaffirm the brand's commitment to Indian enthusiasts. 'The AMG GT range is a symbol of engineering precision, raw performance, and emotional connect. Indian customers have shown immense appreciation for AMG's high-performance legacy,' he added.
Time of India
27-06-2025
- Automotive
- Time of India
SPMEPCI scheme to attract foreign players to invest, bring EV portfolio to India: Mercedes-Benz India CEO
Mumbai: The Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) will attract newer foreign players to invest and bring their EV portfolio to the country, Mercedes-Benz India CEO and Managing Director Santosh Iyer said on Friday. Speaking to PTI after unveiling two new sportscar models -- the all AMG GT 63 4MATIC+ and GT 63 PRO 4MATIC+ Coupe -- Iyer also said while demand momentum continues, 2025 is likely to be a year with marginal growth. The two car models are priced at Rs 3 crore and 3.65 crore (both ex-showroom All India), respectively, the company said. "I think it's a great scheme and a great initiative by the Ministry for Heavy Industries (MHI) to really come up with such a forward-looking scheme. But this scheme is primarily for new entrants who have not come into India," Iyer said. Under the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI), automakers will be permitted to import up to 8,000 EVs at a reduced duty rate of 15 per cent compared to the current 70-100 per cent, provided they commit to investing Rs 4,150 crore in local EV manufacturing . Live Events "We have been in India for the last 30 years. We have already invested Rs 3,000 crore in the (Chakan near Pune) plant. And today, we are already producing two car models locally at this plant (much before the announcement of the scheme). So, I think, for us, it's business as usual. "But I think this scheme will surely attract newer players, who are not yet in India, to invest and come with their electric cars," Iyer said. On issues concerning rare earth magnets, he said in today's time, disruptions happen due to geopolitical issues or supply chain issues, but the company's colleagues involved in the backend are able to manage it quite well. "As of now, we have no disruption in India because of any of these issues," Iyer asserted. He said that the launch of AMG GT 63 4MATIC+ and the track-oriented GT 63 PRO 4MATIC+ represents Mercedes-Benz's strong commitment to India's growing community of performance motoring enthusiasts . These vehicles embody the pure essence of AMG with uncompromising performance, precision engineering, and an emotional connect that only a hand-built AMG engine can deliver, he said. "Indian customers have shown tremendous appreciation for Mercedes-AMG's high-performance vehicles, and the AMG GT range caters to this passion with technology and uncompromising performance, representing the pinnacle of automotive engineering," Iyer stated. PTI
