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Automotive

Government extends deadline for EV components localisation

Department of heavy industries extended the deadline for the localisation of several components under its phased manufacturing programme (PMP) for electric vehicles (EV) from October 1 to April 1 2021, offering a breather to the industry. Compliance with the PMP is a condition for availing subsidies. The move is expected to help the fledgling EV industry as the localisation plans of several companies were derailed due to the disruption from the pandemic.