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Electric SUVs on the rise in India, new policy paves way for VinFast launch
The Business Guardian
|March 19, 2024
The Indian governmentâs recent approval of an electric vehicle (EV) policy is poised to usher in significant developments in the automotive industry, according to industry analysts.
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The policy, announced on March 15, mandates a minimum investment of Rs 4,150 crore and sets a three-year timeframe for starting commercial EV production. It also requires a localization level of 25 percent by the third year and 50 percent by the fifth year to avail the lower custom duty of 15 percent on Completely Built Units (CBUs) priced at a minimum value of $35,000.
Analysts believe that this policy will attract foreign original equipment manufacturers (OEMs) like Tesla, BYD, VinFast Auto, and Fisker, among others, to invest in India’s burgeoning EV market. It is anticipated to facilitate the transfer of global technologies, expand product ranges, and enhance cost competitiveness, thereby driving increased adoption of EVs.
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The Business Guardian
GST cuts boost consumer demand on Navratri Day 1
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Crompton launches DURA series submersible pumps
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2 mins
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Oil India Chief pushes Global asset buys for Mineral Security
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1 min
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1 min
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The Business Guardian
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10 mins
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Nitish launches projects worth Rs 1,826 cr in Biharâs East, West Champaran districts
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1 min
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CM Gupta flags Off Delhi-Baraut inter-state AC electric bus service
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1 mins
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TAMIL NADU PLANS SOUTH ASIAN RENEWABLE ENERGY CORRIDOR: MINISTER
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2 mins
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Heavy rains batter Maha, NDRF rescues over 300 people in Marathwada districts
âThe Continuous heavy rainfall across several districts of Maharashtra has led to a flood-like situation, prompting the deployment of the National Disaster Response Force (NDRF) in Beed, Dharashiv, and Solapur districts.
1 min
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Rahul Gandhi urges PM to announce Punjab Flood relief package
Congress leader Rahul Gandhi on Monday again urged Prime Minister Narendra Modi to immediately announce a comprehensive relief package for Punjab following devastation caused by floods in the state.The Congress leader, who had written a letter to PM Modi earlier, said Punjab has suffered losses of ânearly Rs 20,000 croreâ due to the floods, and the initial relief package of Rs 1600 crore announced by PM Modi is an âinjusticeâ to the people of Punjab.â
1 min
September 24, 2025
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