New Delhi, June 2 -- The Ministry of Heavy Industries issued detailed guidelines for its electric car manufacturing scheme, first announced on March 15, 2024. Name of the scheme is "Scheme to Promote Manufacturing of Electric Passenger Cars in India" (SPMEPCI).

In March 2024, the Government of India approved the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI).

The scheme allows approved applicants to import fully built electric four-wheelers (CBUs) with a minimum CIF value of USD 35,000 at a reduced customs duty of 15 per cent for five years, provided they commit to a minimum investment of Rs 4,150 crore (USD 500 million) in setting up domestic manufacturing.

Companies must achieve at least 25 per cent dom...