Tesla India and other EV manufacturers await government decision

$特斯拉 (TSLA.US)$ Tesla India and other electric vehicles (EV) manufacturers are now awaiting the green light from the Indian government on how they can run their operations in the country.

Since the Indian government announced a US$ 2.4 billion battery scheme last year, EV manufacturers like India’s Reliance Industries, SoftBank Group backed Ola Electric and automaker Mahindra & Mahindra have submitted bids.

The incentive program was launched to encourage companies to invest in the local manufacturing of batteries as it looks to establish a domestic supply chain for clean transport and build storage for renewable energy. Other companies that have submitted bids included Hyundai Global Motors, engineering conglomerate Larsen & Toubro as well as battery makers Amara Raja and Exide.