passenger EV e4w scheme guidelines issued 500 million usd or 4150 crore inr min investment commitment in 3 years march 15 2026 last date to apply mercedez benz skoda Hyundai kia interested

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

passenger EV e4w scheme guidelines issued 500 million

The last date to apply for the scheme is March 15, 2026, according to an official communication. | Representational image

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