Electric Vehicle Push: Government Announces New Policy

  • Boost for Manufacturing: India's new EV policy aims to attract major foreign companies like Tesla by offering reduced import duties for those setting up manufacturing plants in India.
  • Investment Threshold: Companies must invest a minimum amount and source a portion of components locally to qualify for the incentives.
  • Job Creation & Tech Advancement: Expected to create jobs and propel technological advancements in India's EV sector.
  • Consumer Benefits: Policy aims to make EVs more affordable, potentially leading to wider adoption and cleaner transportation.

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