Govt To Cap Investment Towards Charging Networks

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SUMMARY

The provision has been envisaged to ensure EV makers spend more on car manufacturing, rather than charging infrastructure

If foreign automakers spend more than the 5% threshold, the additional deployment of funds will not be counted as their investment in the country

Announced last year, the policy allows foreign car makers to import EVs at just 15% to 20% import duties if they invest $500 Mn towards building a unit in India

The Centre’s soon-to-be notified electric vehicle (EV) policy reportedly plans to mandate…



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Govt To Cap Investment Towards Charging Networks


SUMMARY

The provision has been envisaged to ensure EV makers spend more on car manufacturing, rather than charging infrastructure

If foreign automakers spend more than the 5% threshold, the additional deployment of funds will not be counted as their investment in the country

Announced last year, the policy allows foreign car makers to import EVs at just 15% to 20% import duties if they invest $500 Mn towards building a unit in India

The Centre’s soon-to-be notified electric vehicle (EV) policy reportedly plans to mandate…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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