- Key Highlights of Scheme
- Ministry: Ministry of Heavy Industries (MHI).
- Implementation: Project Management Agency (PMA) will be responsible for providing secretarial, managerial and implementation support and carrying out other responsibilities as assigned by Government of India (GoI).
- Eligibility Criteria
- Minimum Investment required during 3 year window is Rs 4150 Crore (∼USD 500 million). No limit on maximum Investment.
- Domestic Value Addition (DVA) criteria during manufacturing: 25% within a period of 3 years, and 50% within 5 years from date of issuance of approval letter by MHI/ PMA.
- Bank guarantee will be returned only when 50% DVA is attained and investment of at least Rs 4,150 crore has been made, or to the extent of duty foregone in 5 years, whichever is higher.
- Performance Criteria: All electric passenger vehicles shall meet the performance criteria of Production Linked Incentive (PLI) Auto scheme.
- Tenure: 5 years or as notified by GoI.
- Rationale of Scheme
- Attract investments from global Electric Vehicle (EV) manufacturers; Promote India as a manufacturing destination for EV; Promoting healthy competition among EV players can lead to high production volume; Reduce imports of crude oil; Generate employment etc.
Other Initiatives to Promote EV
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