Tata, M&M, Bajaj Auto, TVS among 20 PLI-cleared applications
Sources indicate that applications from twenty companies across passenger vehicles, two-wheeler sector and the electric/clean mobility space have got the approval.
10 Feb 2022
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The Centre has approved 20 applications from the automobile space for the Rs 25938 crore Auto PLI scheme. Top sources have told Autocar Professional, that the govt has approved applications from M&M, Tata Motors, Ashok Leyland, JBM Electric Vehicles, Hyundai India, Pinnacle Mobility, Suzuki Motor Gujarat, VECV, PCA Automobiles & Kia India.
Maruti Suzuki did not fulfil the criteria and withdrew application in favour of Suzuki Motor Company. Interestingly, Maruti has also applied under component PLI scheme. MG Motor met the eligibility criteria but the selection is subject to approval under FDI policy.
In the two-wheeler segment, applications from TVS Motor, Hero MotoCorp, Bajaj Auto, Piaggio have been selected under the Auto PLI scheme. Bharat Forge, Ather Energy, Hero Electric did not meet eligibility criteria.
Govt also selected Ola Electric, Booma Innovative, Elest, Hop Electric, Axis Clean Mobility, Powerhaul vehicles under new non-automotive category.
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