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Vital in view of Tesla participation: After having notified the country’s electric vehicle (EV) policy last month, the Union Ministry of Heavy Industries is scheduled to hold a second round of deliberations with stakeholders within the next few months.
The Ministry will be meeting all possible players in the electric mobility ecosystem of the country before finalising draft guidelines for a new electric vehicle (EV) policy which is being considered as a key element for attracting global automakers, including Tesla, to establish manufacturing operations in India, a senior official announced on Monday.
To qualify for incentives under the new policy, automakers must make fresh investments in line with the new norms, with prior investments not being eligible for consideration. This stipulation has been communicated to Vietnam’s electric carmaker Vinfast, which had previously announced a commitment of Rs 4,000 crore over five years to invest in Tamil Nadu.
Tesla puzzle
The senior official emphasised that the new policy is designed to foster significant fresh investments in India’s EV sector, encouraging global players to contribute to the country’s growing electric mobility landscape. The forthcoming guidelines will provide clarity on the requirements and incentives, ensuring that the policy effectively drives new investments and supports India’s ambitions to become a major hub for electric vehicle manufacturing.
Ahead of the much-hyped proposed visit of tech billionaire Elon Musk to India last month, a representative of the electric car maker Tesla had eportedly attended a stakeholders’ meeting on India’s new Electric Vehicles policy. The meeting had seen the participation of representatives of all the major manufacturers in India including Maruti Suzuki, Hyundai, Tata, Mahindra, Kia, Skoda Auto Volkswagen India, Renault were present in the meeting. In addition, representatives of luxury car makers Mercedes-Benz, BMW, Audi, were also present, sources added.
(With PTI inputs)
