Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI)
Source: PIB
GS II: Government policies and interventions for development in various sectors and issues arising out of their design and implementation
Overview
- News in Brief
- About Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI)
Why in the News?
The Ministry of Heavy Industries (MHI) is pleased to announce the portal launch of the application process under the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI).
News in Brief
- The scheme was notified, and the detailed Scheme Guidelines were subsequently issued.
- Both the Notification and the Guidelines are available on the Ministry’s official.
- Applications are invited from eligible applicants under the scheme, and applicants can apply through the application module.
About Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI)
- The launch of this portal under the SPMEPCI scheme opens new avenues for global electric vehicle manufacturers to invest in India’s rapidly evolving automotive landscape.
- This scheme not only supports our national commitment to achieving Net Zero by 2070 but also reinforces our resolve to build a sustainable, innovation-driven economy.
- It strengthens the pillars of ‘Make in India’ and ‘Aatmanirbhar Bharat’, and positions India as a trusted global hub for next-generation automotive manufacturing and technology leadership.”
- The Scheme shall help to attract investments from global EV manufacturers and promote India as a manufacturing destination for e-vehicles.
- The Scheme will also help put India on the global map for manufacturing of EVs, generate employment and achieve the goal of “Make in India”.
- To encourage the global manufacturers to invest under the Scheme, the approved applicants will be allowed to import Completely Built-in Units (CBUs) of e-4W with a minimum CIF value of USD 35,000 at reduced customs duty of 15% for a period of 5 years from the Application Approval Date.
- Approved applicants would be required to make a minimum investment of Rs. 4,150 crores in line with the provisions of the scheme.
- The scheme is strategically crafted to position India as a global hub for electric vehicle manufacturing.
- With a minimum investment threshold of ₹4,150 crore, it provides an enabling policy environment for leading global and domestic players to establish long-term manufacturing footprints in the country.
- Through calibrated customs duty concessions and clearly defined domestic value addition (DVA) milestones, the scheme strikes a balance between introducing cutting-edge EV technologies and nurturing indigenous capabilities.
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