India introduces policy to boost EV manufacturing by offering lower duties to investing companies.

India has introduced a new policy to boost electric vehicle (EV) manufacturing by offering lower import duties to foreign companies that invest in local production. Companies can import EVs priced over $35,000 at a 15% duty if they invest at least $486 million and start manufacturing within three years. While companies like Mercedes-Benz, Hyundai, and Kia have shown interest, Tesla plans only to open showrooms and sell imported EVs. The policy aims to increase competition and support India's growing EV market.