Whalesbook
India's burgeoning electric vehicle (EV) market faces a significant hurdle due to its reliance on China for critical components like batteries, semiconductors, and magnets. Only 13% of EV models sold in India qualify for government production-linked incentives (PLI) because they don't meet domestic value-add (DVA) mandates, largely due to high imported content from China. Tata Motors and Mahindra & Mahindra are the only Indian manufacturers whose models met the criteria, highlighting a gap in the domestic supply chain.