Tata Motors eyes ₹6,500 cr boost from PLI scheme as EV line‑up expands
The Financial Express
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The country's largest maker of electric passenger and commercial vehicles expects roughly ₹4,000 crore to come from its passenger‑vehicle (PV) range and a further ₹2,500 crore from its commercial‑vehicle (CV) portfolio.
Tata Motors has already received ₹385 crore in PLI benefits for FY25 – ₹250 crore for PVs and ₹135 crore for CVs – up from ₹142 crore a year earlier. A company spokesperson said the firm intends to 'avail the full benefits' available until FY28.
Tata Motors PLI-certified PV models
At present, three PLI‑certified PV models – the Tiago EV, Tigor EV and Punch EV – are earning incentives of roughly ₹40 crore a month. With the recent certification of a forty‑five‑kilowatt‑hour Nexon EV variant and forthcoming approvals for the Harrier EV, Curvv EV and Sierra EV, Tata Motors expects monthly inflows to climb, taking total PV incentives to around ₹700 crore by the end of FY26 and up to ₹2,000 crore annually thereafter.
Tata Motors PLI-certified CV models
In the CV division, led by executive director Girish Wagh, three electrified Ace mini‑truck variants and two each of the Starbus and Ultra electric buses already qualify for PLI support. The incentives lifted CV earnings before interest, tax, depreciation and amortisation margins by twenty basis points in FY25, while PV margins improved by seventy basis points.
Despite its early lead, Tata Motors' share of India's passenger‑EV market fell to 35 per cent in May 2025 from 81 per cent in FY23. Shailesh Chandra, managing director of Tata Passenger Electric Mobility, told investors the firm aims to regain 'about 50 per cent share in the mid to long term' through its expanded electric portfolio and PLI‑driven cost advantages.
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