September 16, 2024 2:37 PM

Govt. approves E-Vehicle policy to boost EV manufacturing in India

The Union Government has approved a scheme to promote electric vehicle (EV) manufacturing in India and to attract investments in the e-vehicle space by key global manufacturers on March 15. EV makers are required to make a minimum investment of Rs 4,145 crore with no cap on maximum investment. The Investment commitment will have to be backed up by a bank guarantee in lieu of the custom duty forgone. “This will provide Indian consumers with access to latest technology, boost the Make in India...