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videos | IST

Over 100 auto companies including Maruti Suzuki, Tata Motors apply for auto PLI Scheme

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January 9, 2022, was the last date for applications for the vehicle and component PLI scheme. CNBC-TV18 has learnt that Maruti Suzuki, Tata Motors, Mahindra Group, MG Motor, Ather Energy, Bajaj Auto, TVS Motor and Hero Morocorp are among the applicants.

The last date for applications for the vehicle and component production-linked incentive (PLI) scheme, which has an outlay of Rs 26,000 crore approximately. was January 9, 2022. CNBC-TV18 has learnt that over 100 auto companies -- major vehicle original equipment manufacturers (OEMs) and component makers -- have applied. Maruti Suzuki, Tata Motors, Mahindra Group, MG Motor, Ather Energy, Bajaj Auto, TVS Motor and Hero Morocorp are among the applicants as per people in the know.
Sona Comstar, Lumax, Toyota Auto Parts, the Minda Group, and some of the major listed component manufacturers have also applied for the component PLI scheme.
The European carmakers have stayed away from this scheme because of low volumes at this stage and low investments in electric vehicle (EV) technology in India, but European component makers have applied for the component PLI scheme.
The government will begin the process of scrutinising these applications and it may take up to a month for the government to select eligible candidates for incentives under this scheme.
Watch the accompanying video of CNBC-TV18’s Parikshit Luthra for more details.