Centre Energizes EV Sector with PLI Approvals
ECONOMY & POLICY

Centre Energizes EV Sector with PLI Approvals

The government has approved 50 out of the 74 applications it received from automakers for its productivity-linked incentive (PLI) scheme aimed at boosting electric vehicle (EV) manufacturing. The remaining 24 applications are still under review.

The approvals granted are expected to help the companies partially mitigate the losses they are facing due to low production volumes of EVs. Among the approved applications, Bajaj Auto was the only automaker to receive approvals for all 13 submissions related to its electric scooter, Chetak, and three-wheelers.

Mahindra & Mahindra was granted approval for 16 out of 23 applications, Tata Motors for 15 out of 27, Ola Electric for four out of five, TVS Motor for two out of five, and Eicher, which submitted one application, did not receive approval. This information was revealed through an internal document showing the status of the domestic value addition (DVA) applications. Under the PLI incentive scheme, automakers can receive a government grant of 13-15 per cent of the sales value of EVs within a year. This grant is designed to enhance the company's total revenue and help offset the higher costs associated with new technology investments, thereby narrowing the margin gap between internal combustion engine (ICE) vehicles and EVs.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

The government has approved 50 out of the 74 applications it received from automakers for its productivity-linked incentive (PLI) scheme aimed at boosting electric vehicle (EV) manufacturing. The remaining 24 applications are still under review. The approvals granted are expected to help the companies partially mitigate the losses they are facing due to low production volumes of EVs. Among the approved applications, Bajaj Auto was the only automaker to receive approvals for all 13 submissions related to its electric scooter, Chetak, and three-wheelers. Mahindra & Mahindra was granted approval for 16 out of 23 applications, Tata Motors for 15 out of 27, Ola Electric for four out of five, TVS Motor for two out of five, and Eicher, which submitted one application, did not receive approval. This information was revealed through an internal document showing the status of the domestic value addition (DVA) applications. Under the PLI incentive scheme, automakers can receive a government grant of 13-15 per cent of the sales value of EVs within a year. This grant is designed to enhance the company's total revenue and help offset the higher costs associated with new technology investments, thereby narrowing the margin gap between internal combustion engine (ICE) vehicles and EVs.

Next Story
Infrastructure Transport

Telangana Eyes Rail Boost for $1 Trillion Goal

Telangana Chief Minister A Revanth Reddy emphasized the state's commitment to contributing $1 trillion to India's $5 trillion economic vision, contingent on robust railway infrastructure development. Speaking virtually at the inauguration of the modernized Cherlapally terminal, the CM called for central government support for key rail projects, including the second phase of Hyderabad Metro and the early execution of the Vikarabad-Krishna rail line via Kodangal. Highlighting Telangana's land-locked nature, Reddy proposed a dedicated rail line between Secunderabad and Machilipatnam port in Andhr..

Next Story
Infrastructure Transport

Thane Reviews Road Projects Amid Key Challenges

The city of Thane has recently undertaken a comprehensive review of its ongoing road infrastructure projects, focusing on overcoming key challenges that have hindered their timely completion. The review meeting, led by senior municipal officials, was aimed at assessing the current progress of multiple roadworks and addressing obstacles such as land acquisition issues, delayed approvals, and lack of coordination between departments. Among the most pressing concerns raised during the review were the frequent disruptions caused by local traffic, difficulties in obtaining necessary permissions for..

Next Story
Infrastructure Urban

MP Expands Vikram Udyogpuri for Investments

The Madhya Pradesh Industrial Development Corporation (MPIDC) has acquired over 400 hectares of private land to develop Phase 2 of the Vikram Udyogpuri industrial area. This expansion aims to attract significant industrial investments and address the rising demand for space in the region. Vikram Udyogpuri currently spans 458 hectares and is nearing full capacity. The MPIDC has initiated the process of land acquisition and is preparing a detailed project report for the second phase. This strategic project will be a highlight at the upcoming Investors' Summit 2025 in Bhopal this February. "We ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000