New Electric Policy… Modi government approves new electric policy, minimum investment Rs 4150 crore

New Delhi (Uttam Hindu News)- New Electric Policy…Taking a big step to strengthen the country in the manufacturing of electric vehicles, the Central Government has approved the new Electric Vehicle Policy. Under the new policy, now companies in the country can set up plants for manufacturing electric vehicles with a minimum investment of Rs 4,150 crore. For this, they will have to use at least 25 percent locally manufactured components in electric vehicles.

Under this policy, interested companies will have to set up manufacturing plants in India. For which the minimum investment will be Rs 4150 crore, while there is no limit on the maximum investment. According to the policy, as part of the eligibility criteria, an EV manufacturer must use 35 percent components from local markets to build the car. It also said that these manufacturers will have to reach 50 percent of domestic value added (DVA) within five years.