Production Linked Incentive scheme for automobile sector: Tata Motors, Hyundai among 20 companies selected | Auto & Travel News

2 min readNew DelhiFeb 12, 2022 03:35 AM IST

Tata Motors, Hyundai, Mahindra & Mahindra and Bajaj Auto are among 20 companies that have been selected for the Centre’s Rs 25,938-crore Production Linked Incentives (PLI) scheme for the automobile sector, the ministry of heavy industries said on Friday.

“The PLI scheme for automobile and auto component industry has been a huge success in terms of the applications received from local as well as globally headquartered groups,” the Ministry said, noting that applicants that have been approved for the scheme thus far include  groups from countries such as the Republic of Korea, USA, Japan, France, Italy, the UK and the Netherlands besides India. The government had received 115 applications under the PLI scheme.

The Ministry noted that while 20 Original Equipment Manufacturers had been selected for the manufacture of Advanced Automotive Technology (AAT) vehicles, applications for component manufacturers under the scheme are being processed separately.

The 20 applicants approved under the champion Original Equipment Manufacturers (OEM) Incentives scheme include Ashok Leyland, Eicher Motors, Ford India, Hyundai Motor India, Kia India, Mahindra & Mahindra among non two-wheeler and three wheeler manufacturers.

The two- and three-wheeler manufacturers selected include Bajaj Auto, Hero MotoCorp, Piaggio Vehicles and TVS Motors.

Six non-automotive investors including Ola Electric technologies and Axis Clean Mobility have also been selected for incentives.