India to invite applications for electric car manufacturing by April, will Tesla apply?
In March 2024, the Ministry of Heavy Industries had launched this scheme to promote EV manufacturing by offering a concessional import duty of 15% for global original equipment manufacturers (OEMs). Under this policy, companies can import at least 8,000 electric cars annually at the reduced 15% duty rate instead of the standard 70%, provided they commit an investment of $500 million toward manufacturing in India. While the scheme itself has been notified, the guidelines are in the final stages and are expected to be issued soon, paving the way for the application process to commence between late March and early April 2025.
In March 2024, the Ministry of Heavy Industries had launched this scheme to promote EV manufacturing by offering a concessional import duty of 15% for global original equipment manufacturers (OEMs). Under this policy, companies can import at least 8,000 electric cars annually at the reduced 15% duty rate instead of the standard 70%, provided they commit an investment of $500 million toward manufacturing in India. While the scheme itself has been notified, the guidelines are in the final stages and are expected to be issued soon, paving the way for the application process to commence between late March and early April 2025.
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