India may not extend electric vehicle concessions to Chinese EV companies like BYD owing to national security concerns, according to a report of Moneycontrol.
“The concessional import duty policy is linked to actual investments in that sense. BYD does not come into the picture because it will not be able to provide FDI commitment that this EV policy needs. Because FDI will require clearances, BYD is, in the sense, out. Meaning, if it has to come, it will have to pay the existing duty of 70 and 100 percent,” an official told the website.
