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Kia India must invest ₹1,400 crore (US$16.38m) in FY26 to stay eligible for the ₹25,938 crore (US$303.5m) production-linked incentive (PLI) scheme for advanced automotive technologies, according to a senior government official cited in the Financial Express report.
The Ministry of Heavy Industries may grant Kia a one-year extension after it missed targets in FY24 and FY25. Failure to comply in FY26 would result in disqualification, the report said.
Kia has not submitted investment documents, unlike Tata Motors, Mahindra & Mahindra, and Ola Electric, which have already received incentives, the report noted.
Launched in 2021, the PLI scheme requires ₹800 crore(US$93.6m) investment by 31 March, with provisions to regain eligibility in future years, the report said.
Source: Financial Express
