Go Unlimited with Magzter GOLD
Get unlimited access to 9,500+ magazines, newspapers and Premium stories for just
Try GOLD - Free
M&M, Tata Motors ride EVs to become first to win auto PLI
Mint Hyderabad
|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.
This story is from the January 03, 2025 edition of Mint Hyderabad.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 9,500+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Hyderabad
Mint Hyderabad
When street dogs, cats bring the office closer
When colleagues work towards a collective goal like looking after community animals, it offers them a sense of purpose
4 mins
September 15, 2025
Mint Hyderabad
US, Chinese officials hold talks in Spain
US and Chinese officials began talks in Madrid on Sunday on their strained trade ties, a looming divestiture deadline for Chinese short video app TikTok and Washington's demands that its allies place tariffs on China over its purchases of Russian oil.
1 min
September 15, 2025
Mint Hyderabad
Will We Disprove Yes Minister With Pension Reforms?
In Yes Minister, a TV satire on British politics, Sir Humphrey often stymied urgent reforms by setting up ‘interdepartmental committees.’
3 mins
September 15, 2025
Mint Hyderabad
It's Clear That Gamblers Should Pay More Taxes Than Investors
Investing aids the economy but gambling is simply consumption
3 mins
September 15, 2025
Mint Hyderabad
Q-comm gaming the grocery run
Platforms are leaning on gamification for marketing & retention
2 mins
September 15, 2025
Mint Hyderabad
Why Meme Marketers Hate Congratulations
With more budgets moving to influencer and meme marketing, it's sometimes hard to tell what is an ad and what isn't
4 mins
September 15, 2025
Mint Hyderabad
SonyLIV rolls with duel despite outrage
The broadcaster, streaming Asia Cup for first time, is sure of adding viewers, boosting revenue despite Indo-Pak tensions
2 mins
September 15, 2025
Mint Hyderabad
Govt alert on Cairo pharma payments
The Indian embassy in Cairo has issued a cautionary trade advisory to all Indian pharmaceutical exporters regarding Biomed For Pharmaceutical Industries, an Egyptian firm.
1 min
September 15, 2025
Mint Hyderabad
Digital loans against MFs are fast, but here's what you should know
Do not max out the LTV ratio, do not use it for long-term funding, and keep a watch on market volatility
5 mins
September 15, 2025
Mint Hyderabad
To curb smokeless tobacco use, India targets 100 high-burden districts
Consumption of smokeless tobacco, a leading cause for cancer, remains one of India's biggest public health challenges, with more than one in five people using such products.
2 mins
September 15, 2025
Listen
Translate
Change font size