20 Companies Approved under “Champion
OEM Incentive Scheme” of PLI Scheme for Automobile and Auto Component Industry
in India
·
The Scheme has been a huge success in terms of overwhelming response
received with a proposed investment of ₹ 45,016 cr
from approved applicants
·
Incentive upto 18%, to encourage industry
to make fresh investments in indigenous supply chain of Advanced Automotive Technology
(AAT) products of PLI Scheme for Automotive Sector.
·
PLI scheme for Automobile and auto components (₹. 25,938 cr) and PLI for ACC (₹. 18,100 cr)
alongwith FAME Scheme (₹ 10,000 cr)to enable India to leapfrog to environmentally cleaner, sustainable,
advanced and more efficient Electric Vehicles (EV)based system
·
Major boost to Hon’ble Prime Minister Narendra Modi’s Make in India
and AtmaNirbharBharat Abhiyan
Posted On: 11 FEB 2022 4:16PM by PIB Delhi
A total of 115 companies had filed their
application under the Production Linked Incentive (PLI) Scheme for Automobile and
Auto Component Industry in India which was notified on 23 September2021. The scheme
was open for receiving applications till 23:59:59 hours IST on 9 January 2022.Incentives
are applicable under the scheme for determined sales of Advanced Automotive Technology
(AAT) products (vehicles and components) manufactured in India from 1 April 2022
onwards for a period of 5 consecutive years.
The Government approved the Production Linked Incentive
(PLI) Scheme for Automobile and Auto Component Industry in India for Enhancing India’s
Manufacturing Capabilities for Advanced Automotive Products (AAT) with a budgetary
outlay of ₹25,938 crore. The Production Linked Incentive (PLI) Scheme for
Automobile and Auto component industry proposes financial incentives to boost domestic
manufacturing of Advanced Automotive Technology (AAT) products and attract investments
in the automotive manufacturing value chain. Its prime objectives include overcoming
cost disabilities, creating economies of scale and building a robust supply chain
in areas of AAT products. It will also generate employment. This scheme will facilitate
the Automobile Industry to move up the value chain into higher value-added products.
MHI has processed the applications received under
Champion OEM Incentive scheme and 20 applicants (along with their 12 subsidiaries)
have been approved under this category of the scheme. Applications for Component
Champion Incentive scheme are being processed separately.
Following is the list of applications approved
under Champion OEM Incentive scheme:
Champion OEM (Except 2W & 3W)
|
Sl No |
Applicant
Name |
|
1 |
Ashok Leyland Limited |
|
2 |
Eicher Motors Limited |
|
3 |
Ford India Private Limited |
|
4 |
Hyundai Motor India Limited |
|
5 |
Kia India Private Limited |
|
6 |
Mahindra & Mahindra
Ltd. |
|
7 |
PCA Automobiles India
Private Limited |
|
8 |
Pinnacle Mobility Solutions
Private Limited |
|
9 |
Suzuki Motor Gujarat
Private Limited |
|
10 |
Tata Motors Limited |
Champion OEM 2W & 3W
|
Sl No |
Applicant
Name |
|
1 |
Bajaj Auto Limited |
|
2 |
Hero MotoCorp Ltd. |
|
3 |
Piaggio Vehicles Private Limited |
|
4 |
TVS Motor Company Limited |
New Non-Automotive Investor (OEM)
|
Sl No |
Applicant
Name |
|
1 |
Axis Clean Mobility Private
Limited |
|
2 |
Booma Innovative Transport
Solutions Private Limited |
|
3 |
Elest Private Limited |
|
4 |
Hop Electric Manufacturing
Private Limited |
|
5 |
Ola Electric Technologies
Private Limited |
|
6 |
Powerhaul Vehicle Private Limited |
The PLI Scheme for auto sector was open to existing
automotive companies as well as new investors who are currently not in automobile
or auto component manufacturing business. The scheme has two components viz Champion OEM Incentive Scheme and Component Champion Incentive
Scheme. The Champion OEM Incentive scheme is a ‘sales value linked’ scheme, applicable
on Battery Electric Vehicles and Hydrogen Fuel Cell Vehicles of all segments. The
Component Champion Incentive scheme is a ‘sales value linked’ scheme, applicable
on Advanced Automotive Technology components of vehicles, Completely Knocked Down
(CKD)/ Semi Knocked Down (SKD) kits, Vehicle aggregates of 2-Wheelers, 3-Wheelers,
passenger vehicles, commercial vehicles and tractors, etc.
This PLI Scheme for automotive sector (₹25,938
crore) alongwith the already launched PLI scheme for Advanced
Chemistry Cell (ACC) (₹18,100 crore) and Faster Adaption of Manufacturing
of Electric Vehicles(FAME) (₹10,000 crore) will enable India to leapfrog from
traditional fossil fuel based automobile transportation system to environmentally
cleaner, sustainable, advanced and more efficient Electric Vehicles (EV) based system.
The PLI scheme for Automobile and Auto Component
Industry has been a huge success in terms of the applications received from local
as well as globally headquartered groups engaged in/ proposing to manufacture Advanced
Automotive Technology vehicles/ products. Apart from Indian business groups, approved
applicants for Champion OEM Incentive scheme include groups from countries such
as Republic of Korea, USA, Japan, France, Italy, UK and Netherlands.
The overwhelming response shows that Industry has
reposed its faith in India’s stellar progress as a world class manufacturing destination
which resonates strongly with Hon’ble Prime Minister’s clarion call of AtmaNirbharBharat - a self-reliant India.