India revamps its electric vehicle (EV) policy to entice Tesla and other global automakers to manufacture EVs locally. The government allows the import of fully built-up electric cars priced above $35,000 at a 15% import duty for 5 years, contingent upon a minimum investment of Rs 4,150 crore or $500 million. Firms must meet localization targets of 25% within 3 years and 50% within 5 years. Import of up to 40,000 EVs annually at a reduced tax rate is permitted, aimed at reducing crude oil imports and meeting carbon reduction goals. The policy changes may facilitate Tesla’s entry into the Indian market, promoting technological advancement, boosting local manufacturing, and curbing pollution.