New Delhi, May 27 -- Within a tight timeframe of 2026-2030, both the automobile industry and the battery manufacturing industry - that have qualified for production linked incentives (PLI) - are expected to make huge investments to localise manufacturing of electric vehicles (EVs) and components and ensure the market uptake of the new production to avail of the incentives.

Yet, the regulatory enablers to create committed market demand to absorb this investment within the same time frame are uncertain.

Similarly, under different demand incentive programmes, the consumers are also required to absorb an assigned number of EVs to stimulate a much larger market demand to move towards the intended ambition of at least 30 per cent fleet elect...