Overview
- The SPMEPCI application portal went live on June 24 and remains open until October 21, 2025.
- Approved companies may import up to 8,000 electric passenger cars annually as completely built units valued at a minimum of $35,000 under a reduced 15% customs duty for five years.
- Applicants must commit at least ₹4,150 crore in Indian manufacturing facilities and meet domestic value-addition targets of 25% within three years and 50% within five years.
- The scheme excludes firms from countries sharing land borders with India to strengthen domestic supply chains and support Make in India objectives.
- Tesla has expressed interest solely in selling vehicles through showrooms in India and has no plans to establish local production under the programme.