Government Will Give Incentives To Many Auto Companies Under PLI Scheme

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.