20 Champion OEMs of the 115 companies that filed under the PLI scheme have got their approval. Ashish Bhatia shares the details on companies that made the cut under the Champion OEM Incentive scheme.

The PLI scheme had 115 companies filing applications. This was till the set deadline on January 09, 2022. The companies had applied to be eligible for incentives applicable under the scheme for the determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from April 01, 2022, onwards for the next five years. On processing the applications, it is learnt, the Ministry of Heavy Industries (MHI) processed the applications. 20 applicants (along with their 12 subsidiaries) have been approved under this category of the scheme. Applications for the Component Champion Incentive scheme are being processed separately.

The companies approved under the Champion OEM Incentive scheme:

Champion OEM (Except 2W & 3W)

Sl No Applicant Name
1 Ashok Leyland Limited
2 Eicher Motors Limited
3 Ford India Private Limited
4 Hyundai Motor India Limited
5 Kia India Private Limited
6 Mahindra & Mahindra Ltd.
7 PCA Automobiles India Private Limited
8 Pinnacle Mobility Solutions Private Limited
9 Suzuki Motor Gujarat Private Limited
10 Tata Motors Limited

Champion OEM 2W & 3W

Sl No Applicant Name
1 Bajaj Auto Limited
2 Hero MotoCorp Ltd.
3 Piaggio Vehicles Private Limited
4 TVS Motor Company Limited

New Non-Automotive Investor (OEM)

Sl No Applicant Name
1 Axis Clean Mobility Private Limited
2 Booma Innovative Transport Solutions Private Limited
3 Elest Private Limited
4 Hop Electric Manufacturing Private Limited
5 Ola Electric Technologies Private Limited
6 Powerhaul Vehicle Private Limited

The PLI scheme for the Automobile and Auto Component Industry has been hailed as a huge success. Apart from Indian business groups, approved applicants for the Champion OEM Incentive scheme include groups from countries such as the Republic of Korea, USA, Japan, France, Italy, UK and Netherlands. On hearing the news, reactions have started to pour in:

Tata Spokesperson

“Tata Motors is delighted with the opportunity provided to participate in the progressive and transformational Auto sector PLI scheme that aims to drive self-sufficiency and world-class competitiveness through the ‘Aatmanirbhar Bharat’ initiative. We are committed to shaping India’s vehicular landscape with smart and sustainable mobility solutions powered by new-age technologies to address the evolving needs of both personal and commercial mobility and this opportunity will help us drive this with even greater vigour.”

The Government approved the Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India for Enhancing India’s Manufacturing Capabilities for Advanced Automotive Products (AAT) with a budgetary outlay of Rs.25,938 crores. The Production Linked Incentive (PLI) Scheme for Automobile and Auto component industry proposes financial incentives to boost domestic manufacturing of Advanced Automotive Technology (AAT) products and attract investments in the automotive manufacturing value chain. Its prime objectives include overcoming cost disabilities, creating economies of scale and building a robust supply chain in areas of AAT products. The scheme is expected to aid the industry in moving up the value chain into higher value-added products.

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