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Euler Motors pushes for changes to India’s auto PLI scheme. -
Current investment and revenue thresholds exclude EV startups. -
The company seeks inclusion due to its significant investments and job creation.
Euler Motors, a leading electric vehicle (EV) startup, is urging the Indian government to relax the eligibility criteria of the country’s automotive Production-Linked Incentive (PLI) scheme. The current high revenue and investment thresholds. set at Rs 10,000 crore in revenue and Rs 3,000 crore in fixed asset investments have kept companies like Euler Motors from participating, despite their substantial contributions to the green mobility sector.
Saurav Kumar, Founder and CEO of Euler Motors, emphasized that these criteria don’t account for the overall investments that startups like Euler have made, which include significant R&D and technological advancements. With plans to invest an additional Rs 500 to Rs 1,000 crore over the next few years, Euler Motors believes it should be eligible for the incentives. The company has already invested Rs 1,500 crore and generated nearly 2,000 jobs, which demonstrates its commitment to India’s green mobility goals.
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Kumar stated that relaxing these criteria would allow more startups to participate and help accelerate EV adoption in the country. While acknowledging the original intent behind the scheme, he argued that the government should include smaller players who are heavily invested in the sector.
