VE Commercial Vehicles plans to tap auto PLI via electric vehicle route

VE Commercial Vehicles Ltd, a joint venture between Volvo Group and Eicher Motors, will be keen to take advantage of the productivity linked incentive (PLI) for the auto sector that the government has lined up through their expansion plans for aggressive foray into electric vehicles, said a top company executive on Monday.

Last week, the government had cleared the PLI scheme for the auto industry with an outlay of Rs 25,938 crore, slashed from the initial outlay of Rs 57,042 crore. The current PLI was expected to speed up India’s efforts to move towards electric vehicles at a faster pace. “Absolutely,