Under the Central Government’s PLI Scheme (Production Linked Incentive Scheme), auto companies will get the benefit of incentives. The government has selected many auto manufacturers including Tata Motors, Mahindra & Mahindra under this scheme. Funds have been allotted to them by the government on the basis of their sales performance. Two wheeler and electric vehicle manufacturers have also been included in this.
Total provision of ₹ 25,938 crore under the scheme
According to the news, the central government has made a total provision of ₹ 25,938 crore under this scheme. Under the scheme (PLI Scheme) from the government, all the companies will get the Letter of Allotment in 10 days. Companies will have to give production tax data to the government from April 2022 to March 2023. It will be checked, it should have at least 50% goods made in India. Incentive will be given on the basis of this.
List of selected companies
Champion OEM (Except 2W & 3W)
Ashok Leyland Limited
Eicher Motors Limited
Ford India Private Limited
Hyundai Motor India Limited
Kia India Private Limited
Mahindra & Mahindra Ltd.
PCA Automobiles India Private Limited
Pinnacle Mobility Solutions Private Limited
Suzuki Motor Gujarat Private Limited
Tata Motors Limited
Champion OEM 2W & 3W
Bajaj Auto Limited
Hero MotoCorp Ltd.
Piaggio Vehicles Private Limited
TVS Motor Company Limited
New Non-Automotive Investor (OEM)
Axis Clean Mobility Private Limited
Booma Innovative Transport Solutions Private Limited
Elest Private Limited
Hop Electric Manufacturing Private Limited
Ola Electric Technologies Private Limited
Powerhaul Vehicle Private Limited
More funds allotted to Tata Motors
Under the PLI scheme, around Rs 3000 crore has been allotted to Tata Motors. Rs 2500 crore has been allotted to Ashok Leyland, about Rs 2000 crore to Mahindra & Mahindra and JBM. A portal will be launched soon regarding the scheme, in which data will have to be given.
