Kumaraswamy meets founders of Ather, River and other EV startups as industry seeks PM E

Kumaraswamy meets founders of Ather, River and other EV startups as industry seeks PM E-DRIVE extension, PLI Auto revision

Union Minister for Heavy Industries and Steel H.D. Kumaraswamy on July 4 met founders of leading electric vehicle (EV) startups in Bengaluru, where the industry sought an extension of the PM E-DRIVE incentive scheme and changes to the Production Linked Incentive (PLI) Auto scheme to better support emerging EV manufacturers.

The meeting at HMT Bhavan brought together founders of Ather Energy, Matter, River, Euler Motors and Raptee.HV to discuss policy measures aimed at strengthening domestic manufacturing, increasing value addition and enhancing India's competitiveness in the global EV market.

Industry seeks policy continuity

The founders said continued policy support would be crucial for scaling manufacturing, boosting exports and sustaining investments in research and development.

Among the key demands was an extension of the PM E-DRIVE scheme, which provides incentives for electric mobility, including electric two-wheelers. They also sought revisions to the PLI Auto scheme to better accommodate new-age EV companies.

"We had a very productive discussion on how bringing new-age businesses within the ambit of PLI schemes can truly fast-track exports, give them the much-needed boost and, more importantly, create a level playing field," Ather Energy Co-founder and CEO Tarun Mehta said in a post on X.

The delegation also discussed opportunities to deepen domestic value addition, strengthen indigenous EV manufacturing and unlock India's export potential.

Mehta said India's homegrown EV companies have emerged as some of the country's largest investors in research and development and manufacturing, playing a key role in expanding multiple EV segments.

"India has the talent, engineering capability and entrepreneurial drive to become a global leader in automotive technology. The right policy framework can help accelerate that further," he said.

Euler Motors Founder and CEO Saurav Kumar said the industry appreciated the government's efforts to accelerate vehicle electrification and discussed how startups could benefit from an expanded PLI framework.

"We thanked and appreciated the ministry for its exceptional work in driving electrification in the Indian automotive industry. We also spoke at length about how new-age startups like us can benefit from PLI schemes," Kumar said.

Matter Founder and CEO Mohal Lalbhai said discussions focused on strengthening India's manufacturing ecosystem as the country accelerates its EV transition.

"For India, the shift to EVs is not just about replacing fuel. It is about building trust, manufacturing depth, domestic technology and products that riders genuinely want to own," Lalbhai said.

Kumaraswamy said the government would continue supporting efforts to build a globally competitive EV ecosystem.

"I assured the stakeholders of all possible support towards building a robust, innovation-driven and globally competitive EV ecosystem in the country," he said in a post on X.

The minister reiterated the government's commitment to accelerating clean mobility, deepening domestic manufacturing and advancing the vision of Aatmanirbhar Bharat and Viksit Bharat 2047. He added that indigenous EV manufacturing would play a key role in helping India achieve its net-zero emissions target by 2070.

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