India, March 18 -- Indian electric vehicle manufacturers have welcomed the Centre's decision to lower import taxes to invite foreign EV makers to invest in India and manufacture locally. On Friday (March 15), the Centre had approved a new EV policy which opened the gate for global EV brands to launch in India with the condition to invest a minimum of Rs.4,150 crore and deadline of three years to start manufacturing locally. For India, aiming to be the next global hub for electric vehicles, the new policy could see a number of prominent companies like Tesla launching here soon.

India's largest electric two-wheeler manufacturer Ola Electric and Mahindra, which plans to launch as many as five electric vehicles in India in the next few years...