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Bajaj gets DVA certificate for all 15 EV models
August 23, 2024
|Business Standard
Bajaj Auto has become the first automotive (auto) original equipment manufacturer (OEM) to receive a domestic value addition (DVA) certificate for all 15 electric vehicle models it submitted for clearance from the Ministry of Heavy Industries (MHI).
As of August 21, 2024, MHI has approved 50 out of 74 models submitted by six companies, including Tata Motors, Mahindra & Mahindra (M&M), Ola Electric, TVS Motor Company, Eicher Motors, and Bajaj Auto. The remaining applications are still under review.
The DVA certificate is crucial for receiving incentives under the production-linked incentive (PLI) scheme, which requires companies to achieve 50 per cent or more localisation in their vehicles to claim benefits.
هذه القصة من طبعة August 23, 2024 من Business Standard.
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