EV Policy Shift to Boost Automaker Investments

Indian Economic Updates : India Eyes EV Policy Shift to Boost Automaker Investments

India is considering revising its electric vehicle (EV) policy to encourage automakers already invested in the country, amid Tesla Inc's delay in committing to local manufacturing. The current Scheme for Manufacturing of Electric Cars (SMEC) supports only new investments, prompting consultations to address concerns from manufacturers. Discussions include potentially allowing incentives for plants producing both internal combustion engine and electric vehicles, accommodating firms like VinFast, which have begun building facilities in India.

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