NEW DELHI, March 15 (Reuters) - India on Friday said it

will lower import taxes on certain electric vehicles for

companies committing to at least $500 million in investment and

a manufacturing facility within three years, potentially

bolstering Tesla's market entry plans.

The new policy mandates companies to invest a minimum of

$500 million in the country and will allow them three years to

set up local manufacturing for EVs with at least 25% of the

components sourced locally.

Companies that meet these requirements will be allowed to

import 8,000 EVs a year at a lower import duty of 15% on cars

costing $35,000 and above. India levies a tax of 70% or 100% on

imported cars depending on their value.