Scheme Overview
- Scheme Name: SPMEPCI – Scheme to Promote Manufacturing of Electric Passenger Cars in India.
- Official Website: MHI Portal
Key Features
- Objective: Establish India as a global EV manufacturing hub and innovation center.
- Minimum Investment Required: â‚ą4,150 crore.
- Import Concession: 15% customs duty on EV CBUs (min CIF USD 35,000) for 5 years.
- Focus: Boosting domestic manufacturing, employment generation, and technology transfer.
Government Vision
- Leadership: Spearheaded under Prime Minister Shri Narendra Modi’s clean mobility mission.
- Minister’s Statement: Union Minister Shri H.D. Kumaraswamy highlighted the scheme as a step toward Net Zero by 2070, strengthening Make in India and Aatmanirbhar Bharat.
Strategic Impact
- Attracts global EV manufacturers to invest in India.
- Promotes indigenous value chains via Domestic Value Addition (DVA) targets.
- Enhances employment and accelerates India’s green mobility roadmap.
