India’s EV Policy Will Not Change to Suit Tesla, Says G-20 Sherpa Amitabh Kant
In a recent statement to ANI, Amitabh Kant, the G-20 Sherpa, emphasized that India will not make any further changes to its electric vehicle (EV) policy to suit a specific company, such as Tesla. This comes after Tesla’s CEO announced a visit to India in April but later canceled it.
Kant highlighted that India has already drafted an EV policy that all companies must adhere to. He stated, “You can’t have policies for individual companies. The policy for EVs has been announced.” This indicates that Tesla may have made specific demands from the Indian government, which the country is not willing to accommodate.
Under India’s EV policy, incentives are proposed for companies setting up manufacturing units in the country. The policy requires a minimum investment threshold of Rs 4,150 crore (USD 500 million) and encourages significant levels of domestic value addition. Additionally, companies setting up manufacturing facilities for EV passenger cars will be allowed to import a limited number of cars at lower customs/import duty for five years.
Kant also highlighted the government’s commitment to accelerating the pace of electric vehicles in India, particularly in two-wheelers and three-wheelers. He mentioned that Rs 57,613 crores have been allocated for procuring 10,000 electric buses, signaling a significant shift towards sustainable transportation.
Overall, Kant’s statement underscores India’s firm stance on its EV policy and commitment to promoting electric vehicles in the country. Despite the potential benefits of Tesla’s entry into the Indian market, the government remains steadfast in its approach to fostering a conducive environment for all companies in the EV sector.