India plans $4.6 billion in incentives to lure EV battery makers

The Mahindra Funster electric concept vehicle is displayed at Auto Expo 2020 in February 2020 in Greater Noida, India. (Getty Images) NEW DELHI — India plans to offer $4.6 billion in incentives to companies setting up advanced battery manufacturing facilities as it seeks to promote the use of electric vehicles and cut down its dependence on oil, according to a government proposal seen by Reuters.