India's home-grown EV startups say the government's auto PLI scheme is helping big players while shutting out innovators building electric two- and three-wheelers from scratch.
Government schemes such as the PM E-Drive initiative, with allocations of around Rs 2,000 crore for charging points deployment, are helping accelerate rollout
Hero MotoCorp Ltd (HMCL) has been the best-performing auto stock over the last three months, gaining over 17 per cent during this period. Multiple tailwinds, especially on the rural front, are expected to boost its volumes. In addition to the demand drivers, new launches too should help drive growth both in the commuter and premium motorcycle categories.
