MHI issues guidelines for EV passenger car manufacturing scheme
The Ministry of Heavy Industries (MHI) has issued final guidelines for the “Scheme to Promote Manufacturing of Electric Passenger Cars in India.” The scheme supports India’s Make in India initiative and aims to attract global electric vehicle (EV) manufacturers. Approved applicants will be allowed to import completely built-up (CBU) electric four-wheelers (e-4W) at a reduced customs duty of 15 per cent for five years. Imported vehicles must have a minimum cost, insurance, and freight (CIF)…