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Auto parts makers get closer to PLI payouts
Mint Mumbai
|February 26, 2024
Sona Comstar, Toyota Kirloskar Auto Parts 1st to get eligibility certification
Two auto component makers have qualified a key step to be eligible for benefits under the government's production-linked incentive (PLI) scheme, setting the scheme in motion for auto parts companies, according to the companies and test agencies.
Sona Comstar, one of India's leading electric vehicle (EV) parts suppliers to international automakers, and Toyota Kirloskar Auto Parts have received eligibility certifications for their hub-wheel drive motors for e-two-wheelers and e-trans axles, respectively. This makes them the first components makers to qualify to receive benefits under the PLI scheme for advanced automotive technologies.
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