The government is looking at considering research and development (R&D) investments, along with funding towards setting up dedicated assembly lines for electric vehicles in existing factories, for incentivising carmakers in the scheme announced to promote local manufacturing of high-end EVs last year.
The decisions were reached at a meeting held with industry stakeholders last week.
India announced a new policy - Scheme for Manufacturing Electric Cars (SMEC) - on March 15, 2024, to encourage investment in local manufacturing of high-end EVs.
While both Tesla and VinFast skipped the latest meeting between industry executives and authorities last week, nearly half-a-dozen players including Hyundai, Škoda-VW, Mercedes Benz India, Toyota have expressed interest in the scheme."Scheme guidelines will be released shortly," a senior official told ET.
Automakers interested in the scheme had raised concerns about the quantum of investment specifie ..
Source Name : Economic Times