Cabinet OKs EV incentive plan
NEW DELHI: The Union Cabinet on Wednesday cleared a Rs 26,000-crore productionlinked incentive (PLI) scheme for hydrogen cell and electric vehicles and several components, which will also include those for petrol- and diesel-fired engines.
While the overall outlay has been slashed, I&B minister Anurag Thakur said the scheme is in addition to the Rs 18,100-crore scheme for advanced chemistry cell and Rs 10,000 crore allocated for Faster Adaption of Manufacturing of Electric Vehicles (FAME).
Besides, heavy industry secretary Arun Goel said the scheme was formulated based on industry’s estimate of cost disability and is meant to ensure that new products are developed to help leapfrog the Indian auto industry.
