India 'confident' new EV policy measures will allow more foreign players to enter market [MSNBC.com]
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Source: MSNBC.com
watch nowVIDEO2:4502:45India 'confident' global players will take advantage of new EV policy: OfficialSquawk Box AsiaLast month, the government rolled outkey initiatives"It involves concessional tariffs for limited volumes of imports by global EV manufacturers, linked to ironclad commitment by them to invest in India a minimum of $500 million," Rajesh Kumar Singh told CNBC's Sri Jegarajah."And also meet very stiff localization targets of 25% by the third year and 50% by the fifth year," he added. "It was meant for all global EV manufacturers and domestic manufacturers."While much of the "buzz has been around Tesla," Singh underscored the initiatives will also attract other foreign automakers, highlighting that Vietnam's leading EV maker "VinFast"While I don't want to mention some of the other companies who are interested, we are very confident that multiple companies will be taking advantage of this policy."In February, VinFast broke ground on itsintegrated EV manufacturing facilityTe
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