The new electric vehicle policy of the government offers some key terms which seem to be more attractive for car makers than what Tesla was able to extract from China when it set up its plant in Shanghai in 2019. 

Under the new policy, India has offered a localisation term of reaching a domestic value addition (DVA) of 25 per cent in three years and 50 per cent in 5 years from the date of issue of the approval letter.

 

In China, on the other hand, 95 per cent of their components used in the plant is sourced locally, thereby creating

First Published: Apr 21 2024 | 11:46 PM IST