Central Government Notifies Guidelines for Electric Passenger Car Manufacturing Scheme
| Category | Details |
|---|---|
| Scheme Name | Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) |
| Announced By | Ministry of Heavy Industries |
| Key Incentive | 15% concessional customs duty on CBUs (CIF value ≥ $35,000) |
| Scheme Validity | 5 years from application approval |
| Annual Import Cap | 8,000 EVs per year, with rollover for unutilized quota |
| Investment Scope | Now includes greenfield and brownfield investments (previously only greenfield) |
| Objective | Attract global EV makers, boost domestic manufacturing, reduce emissions |
| Relevant Policy | EV import policy announced in March 2024 |
| Background Context | Part of India's net-zero emissions by 2070 goal |
| Key Figures | H.D. Kumaraswamy (Union Minister for Heavy Industries), Tesla (led by Elon Musk) |
| Definition | CIF (Cost Insurance Freight): Total cost including transport and insurance to bring goods to port |