Big discussion on the future of Electric Vehicles, Indian Government invites Elon Musk and global EV companies

Obnews Automobile Desk: Ahead of Donald Trump being sworn in as the new US President on January 20, India's Ministry of Heavy Industries met Tesla CEO Elon Musk and EV manufacturers around the world to discuss electric vehicles (EV) policy. Manufacturing companies have been invited. This discussion is being held with the aim of promoting the manufacturing of electric passenger cars in India and setting new guidelines.

Big offer to Elon Musk

The Indian government has moved towards reviving the old partnership with Tesla. However, Tesla's investment plan in India has been stalled for a long time, but now it can be brought into discussion again. Vietnam's Vinfast company has already expressed its desire to invest in India.

Main points of discussion

Many important proposals of EV policy will be discussed in this meeting.

• Reduction in export cost: Low cost benefits can be given to companies investing more than $500 million (about Rs 4,150 crore) in India.
• Import tax cut: The proposal is to reduce the current 70-100% import tax on EVs priced above $35,000 to 15%.
• DVA Target: It may be mandatory to achieve 25% DVA (Domestic Value Addition) in three years and 50% in five years.

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Policy Objective

The objective of the EV policy is to promote global and domestic electric vehicle manufacturing in India. This policy has been designed to strengthen production facilities and infrastructure.

Which companies will be included?

Global EV companies like Tesla, Hyundai, BMW, Mercedes-Benz, Kia, Toyota and Renault-Nissan will participate in this discussion. Among Indian companies, Tata Motors, Mahindra & Mahindra and Maruti Suzuki will also register their presence.