SPMEPCI: India’s electric vehicle market is all to be revolutionized. The central government recently initiated an online application portal to incentivize local EV production under the new SPMEPCI scheme. The initiative is meant to make India a global EV production hub while enabling sustainable growth and innovation-led development.
Objective Behind the Scheme
The new scheme is aimed at inducing global electric vehicle producers to invest in India. The scheme requires a minimum investment of ₹4,150 crore. In return, the companies eligible under the scheme can import up to 8,000 electric vehicles every year, and the import duty is limited to 15%. But the imported cars need to be in the price range of more than ₹30 lakh. The scheme aligns with the government’s broader vision to create a robust domestic EV production ecosystem and make India independent in automobile technology.
Eligibility Criteria for Participation
Not all the companies can benefit through this scheme. Certain eligibility standards have been put forth by the Heavy Industries Ministry. Only those business houses having an annual turnover of a minimum of ₹10,000 crore and a fixed asset investment of more than ₹3,000 crore are eligibile to apply. This screen ensures that only serious and sound players become part of the industry and thus the dignity and seriousness of the scheme are maintained.
Application Window and Portal Access
The application window was made available on June 24, 2025, and will be kept open until October 21, 2025. Interested firms have to apply on the official portal at spmepci.heavyindustries.gov.in. The portal will be the gateway for all submission, approval, and inquiries regarding this program. The punctual release of the portal is an indicator of the government’s dedication to ease of business and rapid digital integration in industrial policy.
Potential Global Arena Participants
A few of the prominent global automobile brands are poised to consider involvement under this program. Mercedes-Benz, Hyundai, Kia Motors, Skoda, and Volkswagen are considered strong hopefuls. These brands are already present in the Indian market and increasing their electric offerings across the world. Tesla and BYD, however, are yet to finalize their manufacturing plans in India. At the same time, Vietnam’s VinFast has already begun construction of its Indian production facility, getting a head start in the race.
Government’s Vision for a Sustainable EV Ecosystem
By providing investment-based incentives and regulated import authorization, it closes the gap between short-term business prospects and sustainable long-term ambitions. It is expected to introduce superior EV technology into India while fostering assembly and R&D locally. The initiative also greenlights green mobility, employment generation, and economic resilience as part of India’s overall Make in India and Atmanirbhar Bharat initiatives.