There’s a want to chill out criteria for India’s PLI scheme for cars to enable electrical automobile start-ups to profit and contribute to the nation’s inexperienced mobility journey, in accordance to Euler Motors Founder & CEO Saurav Kumar.
The excessive ceiling for income and investments outlined within the PLI for the auto sector has meant that an organization like Euler Motors, regardless of being among the many prime gamers within the electrical small vehicles and three-wheeler cargo section, has not been ready to take part within the scheme, Kumar instructed PTI in an interview.
As per the eligibility criteria of the auto PLI scheme, an OEM should have a minimal international group income of ₹10,000 crore and spend money on mounted belongings value ₹3,000 crore.
“That sadly didn’t incentivise start-ups like us who’re equally investing on this area and pushing the expertise and R&D on the forefront,” he lamented.
In phrases of merchandise, Euler Motors has each electrical four-wheeler and three-wheeler industrial cargo automobiles, that are lined underneath the PLI scheme, Kumar added.
Stating that comparable start-ups are additionally in search of a relaxation of the auto PI criteria, he mentioned there are only a few gamers within the business which are really pushing an EV even within the four-wheeler area.
“So it turns into a bit pure that they need to be incentivising most of us,” Kumar mentioned.
Referring to the funding criteria, he mentioned as an alternative of making it solely on “mounted belongings,” the scope could possibly be widened to the general funding {that a} start-up has made.
“We’ve got already invested shut to ₹1,500 crore… we shall be doing one other ₹500 to ₹1,000 crore within the subsequent two to two-and-a-half years… We’re already on that kind of trajectory (for ₹3,000 crore funding criteria),” he added.
If the federal government can chill out that and say that “as an alternative of mounted belongings investments it could possibly be total that we’re investing, it is going to be useful as that’s “additionally a really vital quantity of funding that’s going within the sector,” Kumar famous.
He, nevertheless, clarified that an organization like Euler Motors has “no qualms” about why the federal government has made it just for bigger champion OEMs as there “would make certain goal and thought course of on the time” when the scheme was framed.
What the corporate seeks is “our inclusion primarily as a result of we’ve got additionally invested considerably in phrases of like capital, ₹1,500 crore and we’ve got additionally generated shut to 2,000 employment…,” Kumar mentioned.
Revealed on March 8, 2026
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