<ul><li>The Centre's soon-to-be notified electric vehicle (EV) policy plans to mandate foreign automakers to set aside only 5% of their total investment into the country towards creation of charging infrastructure.</li><li>The provision aims to ensure EV makers spend more on car manufacturing, rather than charging infrastructure. Expenditure incurred on charging infrastructure would be considered up to a maximum of 5% of the committed investment.</li><li>Foreign car makers can import EVs with lower import duties of 15% to 20% if they invest at least $500 million towards building a unit in India. The proposed rules aim to encourage companies to prioritize manufacturing over charging networks.</li><li>The draft rules also mandate EV makers to achieve a minimum turnover by the end of the fourth and fifth year of operations to be eligible for lower import duties on electric cars.</li></ul>

New EV Policy: Govt To Cap Investment Towards Charging Networks

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