Representational file image.
| Photo Credit: B. Jothi Ramalingam
India on Monday (June 2, 2025) announced a scheme that includes significant import tax cuts for foreign automakers that commit to investing in manufacturing electric cars in the country.
Under a rewamped scheme, companies will be allowed to import a limited number of electric cars at a lower import duty of 15% versus the current 70% duty if they commit to investing $486 million to build EVs in the country, the Ministry of Heavy Industries said in a statement.
Carmakers including Mercedes Benz, Volkswagen , Skoda, Hyundai and Kia have already shown interest in the new policy, a Union Minister told reporters in a media briefing on Monday.
More details to follow…
Published – June 02, 2025 01:21 pm IST