3 days ago
India to Open Flagship EV Making Policy to Lure Global Giants
India is set to open applications for its flagship policy offering lower import duties to global electric vehicle makers in exchange for manufacturing in India, people familiar with the matter said.
The policy, that was announced in March 2024, offers to slash duty to 15% on any imported electric car priced from $35,000 if they invest at least 41.5 billion rupees, or about $500 million, to set up a local plant within three years. Up to 8,000 cars yearly can be imported at this reduced rate.
