Govt asks EV makers to use 50% local content for benefit: Report

The central government has reportedly introduced component localisation rules for automakers to avail benefits under the Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME II) initiative. Automakers must ensure minimum 40% component localisation for buses, and 50% for other electric vehicles, the report said. Only fleet operators can reportedly avail four-wheeler incentives.