Latest news with #MinistryofHeavyIndustries
Time of India
14 hours ago
- Automotive
- Time of India
SPMEPCI scheme to attract new global EV players to India: Mercedes-Benz India
The Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI) will serve as a major catalyst for new foreign automakers to enter the Indian EV market, said Santosh Iyer, CEO and Managing Director of Mercedes-Benz India , on Friday. Speaking to PTI after unveiling two high-performance sportscars — the AMG GT 63 4MATIC+ and the AMG GT 63 PRO 4MATIC+ Coupe — Iyer welcomed the scheme, calling it a 'forward-looking initiative' by the Ministry of Heavy Industries . The two cars are priced at ₹3 crore and ₹3.65 crore (ex-showroom, India), respectively. 'The scheme is primarily designed for new entrants. We've been in India for three decades and have already invested ₹3,000 crore in our Chakan plant near Pune. We're producing two EVs locally even before the scheme was announced,' Iyer told PTI. 'For us, it's business as usual, but SPMEPCI will encourage new players to enter and invest in India's EV journey.' Under the SPMEPCI scheme , automakers committing ₹4,150 crore in local manufacturing will be allowed to import up to 8,000 electric vehicles at a concessional 15% import duty, significantly lower than the existing 70–100per cent. Supply chain challenges Addressing concerns around supply chain challenges and rare earth magnets, Iyer reassured that Mercedes-Benz has faced no disruptions in India so far, crediting its global backend teams for effective management. On the launch of the new AMG models, Iyer said these performance-oriented vehicles reaffirm the brand's commitment to Indian enthusiasts. 'The AMG GT range is a symbol of engineering precision, raw performance, and emotional connect. Indian customers have shown immense appreciation for AMG's high-performance legacy,' he added.
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Business Standard
21 hours ago
- Automotive
- Business Standard
Consensus goes for a toss over question of weight in car CAFE norms
The new proposal made by the auto major goes against the consensus position submitted to the government in December 2024 after months of industry-wide consultation Deepak Patel New Delhi Listen to This Article The sudden turn of events linked to Corporate Average Fuel Efficiency (CAFE) norms has thrown the automobile industry into a tizzy. Even as CAFE norms are still two years away from implementation, the industry is learnt to be staring at uncertainty after a major carmaker recently approached the government, seeking leniency in terms of emission targets for cars weighing under about 1,000 kg. The new proposal made by the auto major goes against the consensus position submitted to the government in December 2024 after months of industry-wide consultation, sources said. The Ministry of Heavy Industries held a meeting on June
Fashion Value Chain
2 days ago
- Automotive
- Fashion Value Chain
PLI, EVs & Skills Drive India's Auto Growth: ASDC Forum
The Automotive Skills Development Council (ASDC) hosted its Annual Partners Forum 2025 under the theme 'Stronger Together, Transform Tomorrow', convening over 250 stakeholders from government, academia, and industry to chart a collaborative path for India's auto sector. Dr. Hanif Qureshi, Additional Secretary, Ministry of Heavy Industries, underscored the sector's $240 billion economic contribution and emphasized the government's focus on net-zero goals by 2070, bolstered by the ₹26,000 crore PLI scheme for electric and hydrogen mobility. Noting progress with over 12 companies surpassing 50% localization, Dr. Qureshi stressed the urgent need for workforce upskilling in next-gen technologies to increase India's share in the global $700 billion auto components market. Prof. T.G. Sitharam, Chairman, AICTE, referred to the current era as India's 'Amrit Kaal', encouraging deeper participation in robotics and tech-led skilling. He lauded ASDC's contributions to making India a global automotive leader. Dr. Suhas Deshmukh from NCVET highlighted the NEP 2020's role in integrating skilling with education, aiming to make students job-ready and future-proof through hands-on and interdisciplinary learning. F. R. Singhvi, President of ASDC, emphasized aligning technical skills with human values and soft skills to build globally competitive professionals. Dr. Rodney Riviere, GIZ India, echoed this synergy, stating that AI would augment—not replace—human workers, making training and services smarter and more personalized. Key moments included: Recognition of CSR partners Project Saksham's convocation for female candidates Signing of MoUs with HCL Foundation, Hero MotoCorp, Lucas Indian Services Ltd, and Victora Foundation Two panels: 'Classroom to Career' and 'Sustainable Skilling via CSR' With support from sponsors including George Telegraph, ISIE India, and Ascensive Educare, the event concluded with a strong consensus on shaping India into a global hub for skilled automotive talent, driven by sustainability, innovation, and collaboration.
Time of India
4 days ago
- Automotive
- Time of India
Kumaraswamy launches portal to boost EV manufacturing, says will open up new investment avenues, ET Manufacturing
Advt Advt Advt By , ETManufacturing The Ministry of Heavy Industries (MHI) Tuesday launched a web portal to facilitate new applications for the Scheme to Promote Manufacturing of Electric Passenger Cars in India ( SPMEPCI ), as a part of ease of doing March 2024, the government launched the scheme in a bid to promote domestic manufacturing of passenger cars, with a special focus on electric vehicles (EV). The Centre aims to establish India as a "preferred automotive manufacturing and innovation destination" worldwide.'The initiative marks a defining moment in India's journey towards clean, self-reliant, and future-ready mobility," HD Kumaraswamy , Union Minister for Heavy Industries said, adding that the new portal under the SPMEPCI scheme opens new avenues for global electric vehicle manufacturers to invest in India's rapidly evolving automotive landscape.'This scheme not only supports our national commitment to achieving net zero by 2070, but also reinforces our resolve to build a sustainable, innovation-driven strengthens the pillars of 'Make in India' and ' Aatmanirbhar Bharat ', and positions India as a trusted global hub for next-generation automotive manufacturing and technology leadership.'Earlier, at the 26th Conference of Parties (COP-26) in Glasgow, Prime Minister Narendra Modi said that India would achieve net-zero emissions by 2070, and added that the country would raise its non-fossil energy capacity to 500 GW by 2030 while meeting 50 per cent of its energy demand through scheme is likely to attract investments from EV manufacturers worldwide and promote India as a manufacturing destination for e-vehicles, according to the ministry's statement. "It will also help put India on the global map for manufacturing of EVs, generate employment and achieve the goal of Make in India,' it encourage the global manufacturers to invest under the program, the approved applicants will be allowed to import completely built-in units (CBU) of e-4W with a minimum cost, insurance and freight (CIF) value of $35,000 at reduced customs duty of 15% for a period of 5 selected applicants would be required to make a minimum investment of ₹4,150 crores as per the policy a mandate of domestic value addition, the initiative is set to further boost the country's 'Make in India' and 'Aatmanirbhar Bharat' ambitions, facilitating both - global and domestic companies in line with India's green mobility MHI opened an application window for potential applicants under the scheme who can apply through the online module, and the portal would be open for applications from 24th June 2025 to 21st October 2025.
Time of India
4 days ago
- Automotive
- Time of India
India opens EV manufacturing doors to global giants with new portal launch under SPMEPCI
In a significant move to position India as a global hub for electric vehicle (EV) production, the Ministry of Heavy Industries (MHI) on Tuesday launched the online application portal for the Scheme to Promote Manufacturing of Electric Passenger Cars in India ( SPMEPCI ). The initiative, seen as a landmark in India's clean mobility journey, opens the door for global EV manufacturers to establish a long-term manufacturing presence in the country. According to the Ministry of Heavy Industries, the portal — available at — will remain open for applications from 10:30 a.m. on June 24, 2025, until 6:00 p.m. on October 21, 2025. The move follows the notification of the scheme on March 15, 2024, and the subsequent release of detailed guidelines via Notification No. S.O. 2450(E) dated June 2, 2025. 'This initiative marks a defining moment in India's journey towards clean, self-reliant, and future-ready mobility,' said Union Minister for Heavy Industries HD Kumaraswamy, during the portal launch. 'The launch of this portal under the SPMEPCI scheme opens new avenues for global electric vehicle manufacturers to invest in India's rapidly evolving automotive landscape.' The scheme aligns with India's broader goal of achieving Net Zero by 2070, and is firmly embedded in the government's 'Make in India' and 'Aatmanirbhar Bharat' (self-reliant India) missions. Key features of the scheme Reduced Import Duties for CBUs: Approved applicants will be permitted to import Completely Built Units (CBUs) of electric four-wheelers with a minimum CIF (Cost, Insurance and Freight) value of USD 35,000 at a reduced customs duty of 15%, for a period of five years from the date of application approval. Minimum Investment Requirement: Applicants are required to make a minimum investment of ₹4,150 crore, with mandatory compliance to domestic value addition (DVA) milestones over time. Global and Domestic Participation: The scheme is open to both foreign and domestic manufacturers, offering a calibrated balance between access to advanced EV technology and the development of indigenous manufacturing capabilities. Strategic Policy Framework: The policy framework is designed to attract leading EV brands to India, generate high-skilled employment, and advance India's EV ecosystem through investment, innovation, and infrastructure. The Ministry noted that the scheme 'not only supports our national commitment to achieving Net Zero by 2070, but also reinforces our resolve to build a sustainable, innovation-driven economy.' Industry observers view the launch as a direct call to global players like Tesla, BYD, and other EV majors to make strategic investments in India, leveraging a favorable policy environment and a massive consumer base.
