Concessions outlined in India’s electric vehicle (EV) policy, aimed at attracting global players like Tesla Inc, may not extend to Chinese companies. An unnamed senior government official told MoneyControl that Chinese and China-linked companies are likely to be excluded from these benefits due to national security concerns associated with foreign direct investments (FDIs) linked to Beijing
The report by MoneyControl highlighted that the concessional import duty policy was tied to actual investments, making companies like BYD, headquartered in Shenzhen, China, ineligible for the benefits. BYD, a significant EV player, sold over 1.85 million plug-in electric cars in 2022.
