TL;DR
Euler Motors advocates for relaxing India's auto PLI scheme criteria to allow EV start-ups to participate and bolster green mobility.
Euler Motors, a prominent electric vehicle start-up in India, has urged for a relaxation of the eligibility criteria for the Production-Linked Incentive (PLI) scheme for automobiles. According to Euler Motors Founder & CEO Saurav Kumar, the current high thresholds for revenue and investments in the scheme prevent promising EV start-ups from participating, despite their significant contributions to India's green mobility goals.
The existing PLI scheme mandates a minimum global group revenue of ₹10,000 crore and fixed asset investments of ₹3,000 crore, criteria that are challenging for emerging companies. Euler Motors, a leading player in the electric small trucks and three-wheeler cargo segments, argues that easing these requirements would enable EV start-ups to leverage the scheme, fostering greater innovation and investment in the domestic electric vehicle ecosystem.
