Union heavy industry minister HD Kumaraswamy said that many global automobile companies including Mercedes Benz, Skoda-Fuxwagen, Hyundai and Kia have shown interest in manufacturing electric cars in India. These companies have expressed interest in the government and the industry regarding the scheme that promotes the manufacturing of the electric passenger car in India. The minister issued detailed guidelines about the scheme. Although the scheme was notified on March 15 last year, its guidelines were released on Monday.
When will companies be able to apply under the scheme
Officials said that the facility to apply under the scheme will start in a week or two and it remains to be seen which companies will actually move and apply. Kumaraswamy said, “Mercedes Benz, Volkswagen, Skoda, Hyundai, Kia all these companies have already shown interest in electric car manufacturing.” Global manufacturers have to global manufacturers with minimum 35,000 US dollars (cost, cost, insurance and goods for a minimum custom duty of 15 percent for a period of 5 years from the date of application approval under this scheme. The E-4 W will be allowed to import fully manufactured units (CBUs).
At least how much money will be invested
Approved applicants will have to invest a minimum of Rs 4150 crore as per the provisions of the scheme. The duration of receiving the application through notice inviting applications will be for 120 days (or more). In addition, the Ministry of Heavy Industries will have the right to facilitate the application as per the requirement by March 15, 2026.
What is update about Tesla
Industry Minister H.D. Kumaraswamy said on Monday that the electric car manufacturer Tesla is not interested in making electric cars in India, but the company is keen to set up its showrooms in the country. US President Donald Trump had said about Tesla that if the company set up a plant there to avoid India’s fees, it would be “unfair” for the US.
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