Centre Issues e-4W Scheme Guidelines: Mercedes-Benz, Skoda, Hyundai interested in tapping market; will Tesla join club?

The Narendra Modi government has issued guidelines for a scheme inviting investments of a minimum of Rs 4,150 crore ($500 million) from global automobile players to produce electric vehicles in India. The last date to apply for the scheme is March 15, 2026. Until now, companies like Mercedes-Benz, Kia, Hyundai and Skoda have shown interest in the scheme, whereas Tesla has appeared keen on only opening its showrooms in the country.