India approves new EV policy in boost to Tesla's market entry plans
The focus of the government in the new EV policy will be on domestic EV manufacturing. The policy is designed to attract investments in the e-vehicle space by reputed global EV manufacturers. After the implementation of the EV policy, the government is expecting a 50 per cent domestic value addition in the next five years.
A company will have to invest a minimum of Rs 4150 crore for the under the new EV Policy. However, there is no maximum limit for investment. Photo: Reuters/Representational