If given PLI, we'll make India a hub, say electric cycle companies

The Indian cycle industry (including e-cycles) is estimated to be 22 million units pa with revenues of $1.3 billion.

For India to become a global player in electric cycles, manufacturers should be eligible for the government’s automotive production linked scheme or PLI.

That is the message manufacturers, led by Hero Motors, have sent the government, warning that otherwise the country will miss out on a huge opportunity.

Pankaj Munjal, managing director of Hero Motors, one of the largest cycle manufacturers in the world, said the demand has a strong basis: “We have committed exports of Rs 30,000 crore of electric cycles annually as an industry and 1 million electric cycles for the domestic market at Rs 15,000 a piece to the