Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI)

planned

The Indian government introduced the SPMEPCI initiative in 2023 to encourage import and domestic manufacturing of high-end electric vehicles by cutting import tariffs. The scheme allows companies to import electric vehicles at a lower customs duty rate of 15% for vehicles costing $35,000 or more, provided they invest at least $500 million over five years in EV production or charging infrastructure and increase domestic value addition to 50%. The program permits importing up to 8,000 EVs per year at a lower tariff, with excess permits transferable to subsequent years.