India's EV Revolution: New Policy Set to Reshape Auto Industry

The Indian government is poised to unveil a groundbreaking Electric Vehicle (EV) policy, potentially as early as March 2025. This policy aims to slash import duties from 110% to 15% for qualifying manufacturers, attracting global players like Tesla. Key requirements include a Rs 2,500 crore turnover by the second year and Rs 4,150 crore in fresh investments. Domestic automakers Mahindra & Mahindra, Maruti Suzuki, and Tata Motors are in focus as the policy is expected to intensify competition in the EV market. With mandates for local value addition and progressive turnover targets, this initiative signals a significant shift in India's automotive landscape.

 

Sources: Zee Business, Business Standard, Moneycontrol