Major automakers such as Maruti Suzuki, M&M, Hyundai Motor, Tata Motors, Bajaj Auto, Hero MotoCorp, TVS Motor, and Ford India were some of the companies to receive approval under the PLI scheme. Moreover, Bharat Heavy Electricals and CEAT received approval under the new Non-Automotive Investor (Component) companies category.
Union Heavy Industries Minister Dr. Mahendra Nath Pandey said, “The overwhelming response shows that Industry has reposed its faith in India’s stellar progress as a world-class manufacturing destination which resonates strongly with Hon’ble Prime Minister’s clarion call of AtmaNirbharBharat – a self-reliant India. India will surely take a huge leap towards cleaner, sustainable, advanced and more efficient Electric Vehicles (EV)based system”.
Here are 10 key highlights of the scheme.
1. Under the PLI scheme, the proposed investment of ₹45,016 crore is from approved applicants under Champion OEM Incentive Scheme and ₹29,834 crore from approved applicants under Component Champion Incentive Scheme.
2. A…
