EV

Govt notifies EV scheme to boost electric car manufacturing in India 👉🏻 15% customs duty allowed on import of e-4W CBUs with min CIF value of $35,000 for 5 years 👉🏻 Applicants must invest ₹4,150 Cr under the scheme 👉🏻 EV import cap: 8,000 units/year, unused quota can be carried over 👉🏻 Aim: Attract global EV players to local manufacturin

Positive for automotive and EV related companies.