Centre approves EV policy to allow import of cars at concessional duty for foreign manufacturers
This has paved the way for American EV manufacturer Tesla to enter the growing Indian market and may also help other foreign companies eyeing the country
The Centre on Friday approved an E-Vehicle (EV) policy, which among other things, allowed limited imports of cars at concessional duty by an investor who is setting up a facility in India.
This has paved the way for American EV manufacturer Tesla to enter the growing Indian market and may also help other foreign companies eyeing the country.
“India will not provide enterprise-specific incentives in the electric vehicle sector. An EV policy has been launched in order to boost the sector, which is there for everyone,” a senior government official said on Friday requesting anonymity.
Tesla was demanding special concessions for investing in India, including concessional duty imports of EVs as a condition to set up its unit in the country, which New Delhi declined saying that the government does not give company-specific incentives.