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Jayant Mundhra
•

Dexter Capital Advisors • 3m

I get that Chinese EV makers have received a lot of subsidies from the Govt there 🙏🙏 But, I don’t get why people think that Indian Govt is not raining money on Indian players. .. In February, Tata Motors CFO P Balaji publicly stated that in FY25, Govt’s PLI incentives would be the biggest source of earnings for the company’s EV unit. That’s not a joke. This is a serious amount of money that we are talking about 😅 And mind it, apart from this, the Govt is also raining >Rs 19k crore on cell manufacturing. And on varied EV components manufacturing. All combined, PLI benefits alone total up to >Rs 45k crore. That’s ~$6bn! .. Plus, the 5% GST rate versus ~43% tax (28% GST + Cess) on all other vehicles 🙏🙏 That’s effectively a 37% tax cut on the purchaser’s end on the car that the Govt is giving EV makers versus all other cars - petrol, diesel, CNG, hybrids etc. And it’s all on top of ~Rs 15k crore the Govt has invested in incentivising EVs via the two FAME schemes. .. We are talking about thousands of crores in incentives every year, in all forms aforementioned combined 🙏🙏 So why is the narrative that China helps its automakers with big subsidies and the Indian Govt doesn’t? Based on the aforementioned numbers and facts which are all publicly verifiable, I don’t think that narrative holds merit. What do you think?

6 replies22 likes

Replies (6)

Vaibhav Bhatnagar

Stealth • 3m

Fun Fact: Ola gets PLI but Ather doesn't.

0 replies

Peaceinourtime

Stealth • 3m

talking on this topic

0 replies1 like

Anonymous 3

Stealth • 3m

Maybe it’s time to rename the Indian government’s efforts as the “Electric Vehicle Rain Dance” They seem to be throwing quite a bit of money at making EVs happen

0 replies1 like

Anonymous 2

Stealth • 3m

The Indian government is indeed providing substantial support for the EV sector, and the narrative of lack of aid for local players doesn't capture the full picture of the incentives available

0 replies

Anonymous 1

Stealth • 3m

You make a solid point

0 replies

SHIV DIXIT

Stealth • 3m

Exactly current government gives lots of subsidies but still players like Ola created really bad products for india even importing EVs from China is much better options in terms of features and affordability . Government is giving subsidies for creating better ev infrastructure but still not much innovation and advancement happens. I think government should give these money to startups for better results not these players who is just enjoying opportunities without any dedication and fear of missing out

0 replies1 like

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