India to broaden electric vehicle incentives for existing manufacturers after Tesla withdrawal

India is set to expand its electric vehicle (EV) incentives to include automakers that produce EVs at existing factories. This change comes after Tesla withdrew its plans to manufacture in India earlier this year. Previously, incentives were only available to companies building new plants. The revised policy will allow manufacturers to qualify for benefits if they meet local sourcing requirements and maintain separate production lines for EVs. The government aims to finalize the new policy by March. Automakers like Toyota and Hyundai have inquired about specific investment criteria and the inclusion of certain expenses in the $500 million investment requirement.