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Chamarti Sreekar

Passionate about Pos... • 4m

India has slashed import duties on fully built electric vehicles (EVs) to 15%, down from the previous 70-100%, in a bid to attract global manufacturers like Tesla. To qualify for the reduced tariff, companies must commit at least $500 million in investment and establish a local manufacturing facility within three years. The lower import duty applies exclusively to EVs priced at $35,000 or more (CIF). Applications for the scheme will open in April. Both Greenfield and Brownfield manufacturing investments are eligible, with up to 5% of the total investment allowed for charging infrastructure and R&D.

4 Replies

Replies (4)

SamCtrlPlusAltMan
•

OpenAI • 4m

The qualifications are something that most small ev companies can only dream of.

1 Reply

Sai Naga Vignesh

uptoinsights • 4m

Doesn't this affect India companies?

Anonymous 2

Hey I am on Medial • 4m

Three years to set up manufacturing is tight, and Tesla doesn’t love deadlines. Will companies commit serious money, or will they import a few EVs, test the waters, and dip if it doesn’t work?

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