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Government finalises over 70 companies for auto parts PLI: Sources

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Government finalises over 70 companies for auto parts PLI: Sources

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As many as 103 components are mentioned in the PLI scheme. Incentives in the range of 8 to 13 percent will be given to companies which are making components for safety, flex fuels, CNG, LNG, emission control, passenger convenience, fuel efficiency, and sensors, while a higher range of incentives -- 13 to 18 percent -- will be given to companies making components for hydrogen and electric vehicles.

Seventy of ore than 100 companies that had applied for the component production-linked incentive scheme (PLI) schemes have qualified, sources told CNBC-TV18. All the big names -- Motherson Sumi, Bosch India, Minda Industries, Tata Auto components, Bharat Forge, Ceat -- are among the non-automotive investors which have qualified for that scheme.
Sandhar Technologies Sona Comstar, Lumax, Maruti Suzuki, Toyota, Delphi TVS, Hella India, Dana Group, and Mando Group too have qualified.
Foreign companies from Germany, the US, the Netherlands, Japan, South Korea, France, and Italy have also made it to the list. It is believed Nidec and Mitsubishi are also on the list.
As many as 103 components are mentioned in the PLI scheme. Incentives in the range of 8 to 13 percent will be given to companies which are making components for safety, flex fuels, CNG, LNG, emission control, passenger convenience, fuel efficiency, and sensors, while a higher range of incentives -- 13 to 18 percent -- will be given to companies making components for hydrogen and electric vehicles.
An inter-ministerial group has prepared this list, which will be approved by the minister concerned; the final approvals are expected later today or by Monday.
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