Government's schemes boost domestic electric vehicle manufacturing

The Indian government's initiatives, including the PLI scheme with an approved outlay of Rs 25,938 crore, boosted the domestic EV industry. The scheme approved 50 out of 74 applications from automakers. Investments reached Rs 17,896 crore with incremental sales crossing Rs 3,370 crore, enhancing EV penetration in two-wheeler and three-wheeler segments and increasing registrations by 42.06% in FY24.