Govt Finalizes EV Manufacturing Scheme with Rs.7,500 Crore Sales Target

March 6, 2025

Electric Vehicles Sector News | Project News | Project Update | Project Opportunities

The Ministry of Heavy Industries is finalizing guidelines for its Scheme for the Promotion of Manufacturing Electric Cars in India, targeting Rs. 7,500 crore in sales. Launched in February 2024, the scheme aims to attract global EV manufacturers, including Tesla and VinFast, to set up production facilities in India by offering a 15% temporary duty concession. Feedback has been gathered from key OEMs, but Tesla has yet to respond. The government plans to invite applications by mid-February 2025 after additional consultations.

Note: The above-mentioned news was first published by us in our ProjectX India | 15th February 2025 edition.. Do you want to buy this issue or our latest issue? If yes! click here

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