The Indian government has approved a total of ₹246 crore in Production Linked Incentive (PLI) payments to leading automotive companies, Mahindra & Mahindra (M&M) and Tata Motors, with the aim of boosting the domestic manufacturing of advanced automotive technologies. Tata Motors is set to receive ₹142.13 crore based on the sales of its electric vehicles (EVs) in the 2023-24 fiscal year. This incentive is linked to the sales of models such as the Tiago EV, Starbus EV, and Ace EV, which have contributed significantly to a total of ₹1,380.24 crore. On the other hand, M&M has been granted ₹104.08 crore for its electric three-wheeler models, including Treo, Treo Zor, and Zor Grand, which recorded sales of ₹800.59 crore for the same period. Additionally, M&M has invested a cumulative amount of ₹978.30 crore in these electric three-wheeler models. The overarching PLI scheme, valued at ₹25,938 crore, is strategically designed to enhance India's manufacturing capabilities in electric vehicles, hydrogen fuel cells, and other advanced automotive technologies. The incentives provided under this scheme range from 8% to 18%, depending on the components, with a prerequisite of at least 50% domestic value addition. Notably, the scheme covers both domestic and export sales. The PLI scheme has already catalyzed investments amounting to ₹20,715 crore and incremental sales of ₹10,472 crore as of September 2024. The initial round of incentive payments is anticipated in the 2024-25 fiscal year, illustrating a positive outlook for the growth and further development of the electric vehicle sector in India.