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M&M, Tata Motors ride EVs to become first to win auto PLI
Mint Chennai
|January 03, 2025
Govt okays ₹246 crore to be disbursed to the two firms—first since scheme was launched
Tata Motors Ltd and Mahindra and Mahindra Ltd (M&M) on Thursday became India's first automakers to secure production incentives for the automotive sector, marking a key moment for the scheme that had a tepid start.
The two companies have received approval for claims worth ₹246 crore under the Production-Linked Incentive (PLI) Auto scheme, the heavy industries ministry said.
Mahindra's Last Mile Mobility business won approval for incentives based on sales of its electric three-wheelers (e3Ws), while Tata Motors received the same for the Tiago EV electric car, Starbus EV electric bus and the electric cargo vehicle Ace EV.
"The total claims from these two applicants amount to approximately ₹246 crore, which have been examined and recommended by the Project Management Agency and subsequently approved by the Ministry of Heavy Industries," said a statement from the ministry.
Diese Geschichte stammt aus der January 03, 2025-Ausgabe von Mint Chennai.
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