The Indian subsidiary of Vietnamese manufacturer VinFast is the only one to have made it clear so far that it will avail the benefits of the policy.
On March 15, the government announced a policy to promote India as a four-wheeler EV manufacturing destination. Designed to attract investments by reputed global EV players, it proposed reducing import duty on EVs from 70-100% to just 15%on a maximum of 40,000 EVs over five years, on EVs priced $35,000 and above provided the manufacturer invests ₹4,150 crores ($500 million) onsetting up a facility in India.
On March 18, Phạm Sanh Chau, CEO, VinFast India, said the policy will allow the carmaker to introduce a variety of eco-friendly premium EVs at inclusive prices. In January, VinFast pledged an expenditure of $500 million needed under the policy-which includes an EV manufacturing facility in Tamil Nadu.
Denne historien er fra March 24, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra March 24, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Murdoch ally helps Ambani build media empire in India
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