India Unveils EV Production Incentives for Automakers

India has introduced an online portal under the Scheme to Promote Manufacturing of Electric Passenger Cars (SPMEPCI), offering incentives and reduced import duties to global automakers willing to invest at least Rs 4,150 crore in local EV production facilities. The initiative seeks to position India as a global EV manufacturing hub and aligns with national sustainability and job creation goals under the Make in India campaign. While companies like Tesla and BYD have shown reluctance for local manufacturing, others such as Vinfast are proceeding with Indian investments. Applications for the scheme are open until October 21. Globally, the EV market faces challenges such as China's export of 'zero-mile used' EVs through registration loopholes, leading to tighter import regulations elsewhere. These trends highlight evolving strategies and regulatory responses in the global automotive sector.