Tata Motors, Bajaj Auto to Receive Biggest Chunk of ₹2,000 Crore EV Incentive

India’s electric vehicle (EV) industry is getting a major boost, with five leading automotive companies poised to receive over ₹2,000 crore in incentives under the Production Linked Incentive (PLI) scheme. This significant investment is expected to accelerate the development and production of EVs in the country.

Bajaj Auto Expected to Lead PLI Claims

Bajaj Auto is projected to lead the pack, with an estimated claim of ₹630 crore. Tata Motors, Mahindra & Mahindra (M&M), Ola Electric, and TVS Motor are also expected to receive substantial incentives, contingent on meeting their respective investment and sales targets. This government support underscores the commitment to promoting sustainable transportation in India.

PLI Scheme Driving India’s EV Ambitions

The PLI scheme is a crucial part of India’s strategy to become a global hub for EV manufacturing. These incentives are designed to encourage domestic production, create jobs, and ultimately make electric vehicles more affordable and accessible to Indian consumers.