EV Manufacturers
EV Manufacturers Must Have ₹10,000 Crore Revenue to Qualify for Incentives Under New Policy
Anthony Lane
India’s new EV policy mandates that manufacturers have ₹10,000 crore in revenue and ₹3,000 crore in assets to qualify for incentives. They must invest ₹4,150 crore locally and meet DVA targets (25% by Year 3, 50% by Year 5). Approved OEMs get 15% import duty on premium EVs, plus PLI, FAME II, and state benefits. Smaller players can use alternative schemes, form JVs, or focus on components to scale.
