localisation

India approves EV policy; investment, localisation key

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New Delhi: India on Friday approved the electric vehicles (EV) policy mandating a minimum investment of Rs 4,150 crore or around $500 million. and allowing investors three years to set up local manufacturing for EVs with domestic value addition (DVA) of 25% by the third year and 50% by the fifth year. “The policy is … Read more

Efforts to boost localisation adding on to revenue of component firms

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India’s love for larger, feature-rich vehicles, coupled with efforts being undertaken by stakeholders to deepen localisation, is turning into a boon for local autos parts makers with component sales in the country surging to a whopping $ 36.1 billion in the first six months of the current financial year. An increase in value of sales … Read more