Centre boosts 'Make in India' for EVs with new policy
India just launched a new online portal for its electric car manufacturing scheme (SPMEPCI), open for applications till October 21, 2025.
The goal? Make more EVs in India, create jobs, and help the country hit its Net Zero 2070 target—all while boosting 'Make in India' vibes.
Automakers willing to invest at least ₹4,150 crore get perks
Automakers willing to invest at least ₹4,150 crore get perks: they can import up to 8,000 high-end electric cars per year at a lower 15% customs duty—if they set up local factories within three years.
This is all about getting serious players to build EVs right here.
Only big players are eligible
Only the big players are eligible—companies need annual automotive revenues of ₹10,000 crore and fixed assets over ₹3,000 crore.
The scheme is clearly designed to attract established global and Indian brands ready for long-term commitment.
Tesla and BYD are exploring other options for now
Brands like Mercedes-Benz, Kia, Hyundai, Skoda, and Volkswagen are showing interest. Tesla and BYD seem to be exploring other options for now.
Vinfast is reportedly building a factory too.
It's all part of India's push to make its own EV supply chain and cut down on imports—good news if you care about greener tech made locally!