Budget FY23: EV makers seek incentives for exports, PLIs to small players

The Society of Manufacturers of Electric Vehicles (SMEV) has requested the Centre to provide some incentives — in the form of subsidies — on exports of affordable small cars and scooters from India in the Union Budget FY23 to be tabled in the Parliament on February 1.

The electric mobility sector is a large space that Indian industries can capture before international players invade the market with “cheaper contraptions”, SMEV DG, Sohinder Gill, said.

These are part of SMEV’s pre-Budget recommendations to the Centre.

“Around the world, the craze for bigger SUVs and higher-powered motorcycles is slowly veining towards compact and smaller electric cars and scooters. Thus, wonders can be done in affordable small cars and scooters segment, just as they are in internal combustion engine vehicles,” Gill said.