The new policy allows import of just 40,000 EVs per manufacturer over a 5-year period i.e. at a rate of not more than 8,000 EVs per year. And that too on the condition of setting up a manufacturing base in India. Secondly this is for import of only high-end vehicles (USD 35,000 i.e. around Rs.30 lacs and above). Competition is bound to increase in the long run anyway (from the present), and this policy is just a small carrot to those who are anyway planning to enter the Indian market. I don’t think it is much of an issue for existing players.
Press Information Bureau (pib.gov.in)
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