Patna HC: Possessing Cough Syrup With under 2.5% Codeine Without Authorisation Attracts the NDPS Act  ||  Madras HC: Person Who Converts to Islam Cannot Claim Backward Class Muslim Status  ||  Madras High Court Lays Down Guidelines For Surrogacy Custody and Parentage Applications  ||  Bombay High Court: Residence Proof is Mandatory For RTE Neighbourhood School Admissions  ||  Madras HC Strikes Down TN Law Mandating Registrar’s Title Verification Before Property Registration  ||  Bombay HC Allows Galli News to Report Medical Negligence But Bars Defamatory Hospital Imputations  ||  Supreme Court: Parents’ Loss Cannot Be Measured With Arithmetical Precision  ||  Supreme Court: Registered Sale Deed Remains Valid Despite Minor Attestation Discrepancies  ||  Calcutta High Court: Section 107 BNSS Property Attachment Cannot be Used as a Recovery Tool  ||  Ker HC: Elected Representatives Must Swear by God or Affirm, Cannot Invoke Specific Deities in Oath    

Central Government approves E- Vehicle policy - (15 Mar 2024)

Motor Vehicles

The Union Government has approved a scheme to promote India as a manufacturing destination so that e-vehicles (EV) with the latest technology can be manufactured in the country. The policy is designed to attract investments in the e-vehicle space by reputed global EV manufacturers. This initiative will provide Indian consumers with access to latest technology, boost the Make in India initiative, strengthen the EV ecosystem.

The Policy would encourage healthy competition among EV players leading to high volume of production, economies of scale, lower cost of production, reduce imports of crude Oil, lower trade deficit, reduce air pollution, particularly in cities, and will have a positive impact on health and environment. The policy entails the minimum Investment required. There is no limit on maximum Investment. Timeline for manufacturing is three years for setting up manufacturing facilities in India.

The customs duty of 15% (as applicable to CKD units) would be applicable on vehicle of minimum CIF value of USD 35,000 and above for a total period of 5 years subject to the manufacturer setting up manufacturing facilities in India within a 3-year period. The Investment commitment made by the company will have to be backed up by a bank guarantee in lieu of the custom duty forgone. The Bank guarantee will be invoked in case of non-achievement of DVA and minimum investment criteria defined under the scheme guidelines.

Tags : POLICY   APPROVAL   E-VEHICLES  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved