3 days ago
Skoda, Mercedes, Kia, Hyundai keen to manufacture EVs in India: Kumaraswamy
Union Minister H D Kumaraswamy announced that Mercedes Benz, Skoda-Volkswagen, Hyundai, and Kia are considering manufacturing electric vehicles in India, with the application window for the SPMEPCI opening soon. The scheme aims to boost domestic EV production and reduce emissions, offering incentives for manufacturers who invest and produce EVs locally.
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Europe's Mercedes Benz, and Skoda-Volkswagen (VW), and South Korea's Hyundai and Kia, have shown interest to manufacture electric vehicles (EVs) in India, Union Heavy Industries Minister H D Kumaraswamy said journalists, he said application window for the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) will soon open, after which formal requests will be to queries on Tesla's India plans, Kumaraswamy said the US-headquartered EV maker has not shown any interest to make in India.'Tesla only wants to open showrooms and sell imported cars,' he the SPMEPCI guidelines, the minister said this aligns with India's emission reduction goals.'The benefit is available only if the company agrees to invest and manufacture EVs on India,' he said the beneficiaries will need to start domestic production between three years.'This will enhance India's status as a global EV manufacturing hub…applications window for seeking sops to open shortly,' he officials aware of the developments said Skoda-Volkswagen (VW), and Mercedes Benz may shortly announce investment plans. The car makers are expected to seek sops under scheme is aimed at encouraging fresh investments from global manufacturers in EV passenger cars segment. To encourage the global manufacturers to invest under the scheme, approved applicants will be allowed to import Completely Built-in Units (CBUs) of electric four wheelers with a minimum import value of $ 35,000 at reduced customs duty of 15% for five the scheme guidelines, approved applicants would be required to make minimum investment of Rs. 4,150 crore in line with the provisions of the scheme. The maximum number of cars allowed to be imported at the reduced duty rate shall be capped at 8,000 units per year.
