PLI Scheme Will Kick-Start Investments In Advanced Auto Technologies, Enable Creation Of EV Ecosystem: ICRA
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ICRA Research Report
The Ministry of Heavy Industries, Government of India, announced a Rs 25,938 crore production linked incentive for the auto and auto components sector on September 15, 2021.
Further clarifications on the scheme were issued via a notification dated September 23, 2021.
The auto PLI scheme aims to provide sales-linked incentives to both original equipment manufacturers and component suppliers.
The OEM incentives are only for electric vehicles and hydrogen fuel cell vehicles, while those for suppliers are applicable for advanced automotive technology components.
The incentives are sales-linked and are expected to range from 13-18% on determined sales values for OEMs and 8-13% of determined sales values for auto component manufacturers.
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