Government Approves E-Vehicle Policy

On 15th March, 2024, the Union Government approved a scheme to promote India as a manufacturing destination so that e-vehicles (EV) with the latest technology can be manufactured in the country.

  • The policy is designed to attract investments in the e-vehicle space by reputed global EV manufacturers.

What does the Policy Entail?

  • Minimum Investment Required: Rs 4150 Cr (∼USD 500 Mn).
  • Maximum Investment: No limit on maximum Investment.
  • Timeline for Manufacturing: Manufacturers will be required to establish manufacturing facilities in India within a three-year timeline and commence commercial production of EVs.
  • Domestic Value Addition (DVA) during Manufacturing: A localization level of 25% by ....
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