India plans to expand electric vehicle incentives to automakers building models at existing factories in the country, instead of limiting the benefits to automakers willing to build new plants, a person with direct knowledge of the matter said. India's EV policy, which is still being finalised, was originally designed to encourage Tesla to enter the market and manufacture locally but the U.S. automaker backed off from those plans earlier this year. Other foreign automakers have shown interest in making EVs in India at existing and new factories, according to minutes of a meeting with India's ministry of heavy industries that was seen by Reuters...

Rivian faces significant challenges as EV subsidies end, making it difficult to compete with Tesla and Ford. Find out why I believe RIVN shares are a sell...