The three-time increase in allocation for the Production Linked Incentive (PLI) scheme for automobiles and auto components in the Union Budget 2026 is likely to significantly support electric vehicle (EV) penetration and localisation of component manufacturing, according to a report by Axis
The Indian automotive sector is preparing for a series of high-profile vehicle launches scheduled for early 2026, signalling a competitive shift across the electric vehicle (EV) and internal combustion engine (ICE) segments. Leading manufacturers, including Maruti Suzuki, Tata Motors, Kia,