Govt To Cap Investment Towards Charging Networks

The provision has been envisaged to ensure EV makers spend more on car manufacturing, rather than charging infrastructure

If foreign automakers spend more than the 5% threshold, the additional deployment of funds will not be counted as their investment in the country

Announced last year, the policy allows foreign car makers to import EVs at just 15% to 20% import duties if they invest $500 Mn towards building a unit in India

The Centre’s soon-to-be notified electric vehicle (EV) policy reportedly plans to mandate…