Ev Policy: Investing in physical infrastructure such as plant, machinery, and charging stations will qualify for incentives under the Scheme for Manufacturing of Electric Cars (SMEC). The scheme aims to boost electric vehicle manufacturing by lowering import duties on select vehicles. Companies must invest USD 500 million and comply with a 50% domestic value addition commitment to qualify. Discussions with interested parties are ongoing to clarify eligible investments. Global and local companies, including Tesla, VinFAST, Tata Motors, and Hyundai, are involved in shaping the new policy.
American tech billionaire Elon Musk, who was scheduled to visit India on April 21-22, had postponed his visit at the last moment citing "very heavy Tesla obligations".
Tesla India: American tech billionaire Elon Musk, who was scheduled to visit India on April 21-22, had postponed his visit at the last moment citing "very heavy Tesla obligations".