EV Manufacturing
Vin Fast’s Tamil Nadu Investment May Not Qualify for India’s EV Manufacturing Incentives
Anthony Lane
Vin Fast’s $2 billion investment in Tamil Nadu’s EV plant may miss India’s SPMEPCI incentives, as ₹500 crore was booked before the scheme’s January 15, 2025 launch. To qualify, Vin Fast needs to invest ₹4,150 crore post-approval and achieve 60% local sourcing by 2028. This article explains scheme criteria, investment timing, stakeholder views, and practical steps for EV investors to align with India’s evolving policy and maximize incentives.
