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Chamarti Sreekar

Passionate about Pos...ย โ€ขย 1m

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.

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