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…