The government has provided incentives to more than 13 lakh 61 thousand electric vehicles so far under the Production Linked Incentive, PLI-Auto Scheme. The Heavy Industries Ministry said, the scheme offers incentives ranging from 13 to 18 per cent for Electric Vehicle and Hydrogen Fuel Cell components and 8 to 13% for other Advanced Automotive Technology components.
The Ministry said, incentives have been provided to over ten lakh electric two-wheelers, over two lakh three-wheelers, around 80 thousand four-wheelers and around one thousand 400 electric buses. The scheme was approved in 2021 to enhance the country’s manufacturing capabilities for Advanced Automotive Technology products, overcome cost disabilities and build a robust supply chain.
The PLI Auto scheme incentivises only those products which achieve a domestic value addition of minimum 50%. The Ministry said, under the PLI-Auto scheme, a cumulative investment of 35 thousand 657 crore rupees has been achieved till date and around 49 thousand employment has been generated.
