India’s new EV policy to help launch many eco-friendly premium-quality SUVs: VinFast Auto
Vietnam’s electric car maker Vinfast Auto on Monday said India’s new electric vehicle policy, which provides import duty concessions to companies setting up manufacturing units in the country with a minimum investment of USD 500 million, will allow it to avail various types of electric vehicles. Will allow to offer eco-friendly premiums. Quality SUVs at inclusive prices. The Indian government’s new electric vehicle (EV) scheme aims to spur large investment in manufacturing, drive efficiency and upgrading, establish a strong supply chain and offer world-class, zero-tailpipe emission vehicles to consumers, VinFast India CEO Pham Sanh Chau said. a statement.
“This forward-looking policy helps us offer a variety of smart, green, premium-quality SUVs at inclusive prices along with excellent aftersales policies,” he said.
Chau further said, “With a long-term growth commitment in India, we have committed an expenditure of US$500 million, which also includes an electric vehicle manufacturing facility in Tamil Nadu.”
In February this year, VinFast – a major competitor to American EVs had said it would invest Rs 4,000 crore over the next five years in the initial phase, creating 3,500 jobs in the Tuticorin region.
Ola Electric Founder and CEO Bhavish Aggarwal in a post on X, also lauded India’s New EV policy, saying it is a win for the Make in India initiative.
“Great to see the Indian government’s progressive decision to lower import duties on EVs for companies investing in India. This is a win for the #MakeInIndia initiative & strengthens our manufacturing ecosystem, propelling India towards a greener future. India will become the global EV hub of manufacturing and technology!,” he wrote.
Commenting on the policy, Society of Indian Automobile Manufacturers (Siam) President Vinod Aggarwal said a holistic view has been taken by the government of India in the best interests of the country.
“The Indian automobile industry and members of Siam will adapt to this new policy and remain committed to bring new, innovative, and aspirational products and work towards developing a robust EV ecosystem in the country,” he added.
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