Press Note 3 curbs apply to BYD, other Chinese carmakers: Govt

Notified in March 2024, the scheme aims to attract foreign direct investment from global EV players, boost India's EV manufacturing capabilities, and generate employment.

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Based on the guidelines, approved applicants can import completely built-up (CBU) electric four-wheelers (e4Ws) with a minimum CIF (cost, insurance, and freight) value of $35,000 at a reduced Customs duty of 15 per cent for five years from the date of approval.

The number of e4Ws allowed to be imported at the concessional rate is capped at 8,000 units per year, with carryover permitted for unused annual quotas.

Applicants must set up a domestic manufacturing facility and begin e4W production within three years, with a minimum investment of ₹4,150 crore.

They are required to meet a domestic value addition threshold of 25 per cent within the first three years, and 50 per cent within five years from the issuance of the approval letter.