20 Cos Selected Under Govt’s Auto PLI Scheme, Maruti Absent: Complete List

Feb 12, 2022 admin 277 Views

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Under the Performance Linked Incentive scheme for boosting clean fuel vehicles in the country, the Centre has finalized 20 auto companies.

The selected companies include big names like Tata Motors (NS:), Hyundai (KS:), KIA (KS:) and Mahindra & Mahindra (NS:), among others but the country’s largest carmaker Maruti Suzuki (NS:) is not on the list.

Reports suggest that the carmaker had withdrawn its application in favour of its parent company, on failure to meet criteria.

The Government witnessed an overwhelming response to the ‘Champion OEM Incentive Scheme’ for the Automobile and Auto Component Industry in the country, and has received a proposed investment of Rs 45,016 crore from the approved applicants.

115 auto companies had filed for the PLI scheme, notified on Sep 23, 2021, approved with a budgetary outlay of Rs 25,938 crore.

The ‘Champion OEM Incentive Scheme’, with an incentive from 13-18% is to boost the industry to make fresh investments in the indigenous supply chain of Advanced Automotive Technology products for the automotive sector.

Under the scheme, incentives will be applicable to determine the sales of ATT products manufactured in the country from April 2022, for 5 consecutive years, stated news reports.

These companies are selected under the Champion OEM Incentive scheme.