M&M, Tata Motors ride EVs to become first to win auto PLI

Tata Motors Ltd and Mahindra and Mahindra (M&M) Ltd 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.

- Manas Pimpalkhare & Alisha Sachdev

NEW DELHI:

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 and Mahindra's Last Mile Mobility business won approval for incentives based on sales of its electric three-wheelers, while Tata Motors received the same for the Tiago EV electric car, Starbus EV electric bus, and 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 (PMA) and subsequently approved by the Ministry of Heavy Industries (MHI)," said a statement from the ministry of heavy industries.