India's deep-tech EV startups lead global innovation but face PLI disadvantage against legacy rivals
By
FE Bureau
Summary
India is emerging as a global hub for electric vehicle (EV) innovation, driven by deep-tech startups that are building world-class EV technology from scratch. The article, co-authored by founders of Ather Energy, River Mobility, and Euler Motors, argues that India has the products, engineering depth, and manufacturing base to lead globally. However, deep-tech EV startups face a 16% disadvantage under the Production Linked Incentive (PLI) scheme compared to legacy automakers, which threatens their competitiveness. The authors call for policy corrections to level the playing field and enable startups to drive innovation across EV segments.
Source
Twitter / XIndia's deep-tech EV startups lead global innovation but face PLI disadvantage against legacy rivalsfinancialexpress.comKey quotes
· 3 pulledIndia is doing something few emerging economies have managed in electric mobility transition — building world-class electric vehicle (EV) technology from scratch, for the world.
Deep-tech EV startups face a 16% PLI disadvantage against legacy rivals.
India has the products, engineering depth, as well as manufacturing base to gain lead; onus now on deep-tech startups to drive innovation across segments.
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