TL;DR
PLI schemes are successfully promoting localized EV component manufacturing in India, reducing import reliance, creating jobs, and lowering EV costs.
Government-backed Production Linked Incentive (PLI) schemes are proving instrumental in fostering localized manufacturing of critical components for electric two-wheelers in India. These incentives encourage domestic and international players to set up or expand manufacturing facilities, thereby reducing dependence on imports for batteries, motors, controllers, and other essential parts. This initiative not only strengthens India's self-reliance in the EV sector but also creates employment opportunities, drives technological innovation, and potentially lowers the overall cost of electric vehicles, making them more affordable for the masses. The long-term goal is to establish India as a global EV manufacturing hub.