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Govt puts localisation content limit of 50% for EV makers to get incentives

In a recent development, the government has put localization content limit for electric vehicles manufacturers to be eligible for incentive benefit under the FAME II Initiative in order to promote the local making of EVs in India. The minimum limit is of 50% for electric 4-wheelers, electric 2-wheelers, electric 3-wheelers, and e-rickshaws while for buses the limit is 40%. It will come into effect from 1st April.