Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI)
Why it Matters?
The Ministry of Heavy Industries launched the application portal under the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) to attract global EV manufacturers, promote Make in India, and support India's Net Zero 2070 goal.
What You Should Know?
The Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) was launched by the Ministry of Heavy Industries (MHI).
The scheme aims to promote domestic manufacturing of electric four-wheelers and supports India’s Net Zero target by 2070.
It aligns with the Make in India and Aatmanirbhar Bharat initiatives.
The scheme positions India as a global hub for electric vehicle (EV) manufacturing and technology leadership.
Approved applicants are allowed to import Completely Built Units (CBUs) of electric four-wheelers with a minimum Cost, Insurance, and Freight (CIF) value of USD 35,000.
These imports will attract a reduced customs duty of 15% for a period of five years from the application approval date.
Applicants are required to make a minimum investment of ₹4,150 crore under the scheme.
The scheme mandates compliance with Domestic Value Addition (DVA) targets to promote indigenous supply chains and local manufacturing.
It seeks to attract global investment, generate employment, and accelerate India’s transition to sustainable and green mobility.