New EV scheme finalised, offers import tax cuts for local production
The Hindu
India offers tax cuts for foreign automakers investing in electric car manufacturing, attracting interest from major companies.
India on Monday (June 2, 2025) announced a scheme that includes significant import tax cuts for foreign automakers that commit to investing in manufacturing electric cars in the country.
Under a rewamped scheme, companies will be allowed to import a limited number of electric cars at a lower import duty of 15% versus the current 70% duty if they commit to investing $486 million to build EVs in the country, the Ministry of Heavy Industries said in a statement.
Carmakers including Mercedes Benz, Volkswagen , Skoda, Hyundai and Kia have already shown interest in the new policy, a Union Minister told reporters in a media briefing on Monday.
More details to follow...
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