Close Menu
  • Home
  • Startups
  • Channeliam Fact Check
  • Middle East
    • Exploring UAE
    • Emerging saudi
  • Shepreneur
    • Top Women Startups
  • Remembering Ratan Tata
  • More
    • Jobs and Internships
    • Funding
    • Entrepreneur
    • Technology
      • Auto
      • Gadgets
    • Updates
    • MSME
    • Movies
    • Travel
    • Events
    • Featured
    • Editor’s Pick
    • Discover and Recover
CHANGE LANGUAGE
What's Hot

South India’s Best-Kept Hill Station Secrets

31 May 2025

NDA Welcomes Its First Female Graduates

31 May 2025

Dubai Lottery’s Rare Repeat Winner from Kerala

31 May 2025
Facebook X (Twitter) Instagram
  • About Us
  • I am Startup Studio
  • I am an Entrepreneur
  • She Power
  • I AM NOW AI
YouTube Facebook Instagram LinkedIn X (Twitter)
Channeliam / Channel I'M EnglishChanneliam / Channel I'M English
  • Home
  • Startups
  • Channeliam Fact Check
  • Middle East
    • Exploring UAE
    • Emerging saudi
  • Shepreneur
    • Top Women Startups
  • Remembering Ratan Tata
  • More
    • Jobs and Internships
    • Funding
    • Entrepreneur
    • Technology
      • Auto
      • Gadgets
    • Updates
    • MSME
    • Movies
    • Travel
    • Events
    • Featured
    • Editor’s Pick
    • Discover and Recover
Change Language
Channeliam / Channel I'M EnglishChanneliam / Channel I'M English
Change Language
Home » 76% investment boost in auto EV sector 
Auto

76% investment boost in auto EV sector 

News DeskBy News Desk18 March 2022Updated:18 March 2022No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Email Telegram WhatsApp
Share
Facebook Twitter LinkedIn Pinterest Email Telegram WhatsApp

PLI to invite investments in EV sector

Production Linked Incentive (PLI) Scheme for the automobile sector proposes financial incentives of up to 18% to boost domestic manufacturing of advanced automotive technology products and attract investments in the automotive manufacturing value chain. As many as 20 companies including Hyundai Motor India, Suzuki Motor Gujarat, Ashok Leyland, Mahindra & Mahindra (M&M), Hero MotoCorp, Bajaj Auto, Ola Electric Technologies have been approved for the Production Linked Incentive (PLI) Scheme for the automobile sectors.

India must take the giant leap from fossil fuel-based system to EV ecosystem.

Scrutiny to apprehend the two listed below

Fossil fuels are non-renewable energy sources, and they pollute the environment. Fossil fuels are the main driver of global warming and contribute to climate change. Whereas electric vehicles are 100 percent eco-friendly as they run on electrically powered engines. It does not emit toxic gases or smoke in the environment as it runs on a clean energy source. They are even better than hybrid cars as hybrids running on gas produce emissions, thereby contributing to a healthy and green climate.

Saurabh Agarwal, Partner, Automotive Sector, EY, said, “The real benefit of the Auto PLI would be to the successful applicants who are able to achieve the 50% localisation criteria. Industry should watch out for formula with respect to computing 50% localisation (i.e., whether battery cells and semi-conductors which are currently manufactured in India with negligible capacity would be kept out for computing 50% localisation) as it will be a key to determine the successful beneficiaries of the scheme.

The incentives are available to both existing automotive companies as well as new investors. Vehicles powered by traditional internal combustion engines, including those running on petrol, diesel, CNG and ethanol, are also eligible for any new-age technologies they bring to the automotive ecosystem. The scheme has two components — Champion OEM Incentive Scheme and Component Champion Incentive Scheme. The Champion OEM Incentive Scheme is a ‘sales value-linked’ scheme, applicable on battery electric vehicles and hydrogen fuel cell vehicles of all segments. The Component Champion Incentive Scheme is a ‘sales value-linked’ scheme, applicable on advanced automotive technology components of vehicles, completely knocked down/ semi-knocked down kits, and vehicle aggregates of 2-wheelers, 3-wheelers, passenger vehicles, commercial vehicles and tractors.

The automotive PLI scheme is in addition to the Rs 18,100 crore advanced chemistry cell and Rs 10,000 crore Faster Adaption of Manufacturing of Electric vehicles (FAME) schemes. These will enable India to leapfrog from (a) traditional fossil fuel-based automobile transportation system to (an) environmentally cleaner, sustainable, advanced and more efficient electric vehicles-based system.

Minister for Heavy Industries Mahendra Nath Pandey said, “The overwhelming response shows that industry has reposed its faith in India’s stellar progress as a world class manufacturing destination which resonates strongly with Hon’ble Prime Minister’s clarion call of AtmaNirbharBharat – a self-reliant India. India will surely take a huge leap towards cleaner, sustainable, advanced and more efficient Electric Vehicles (EV)based system”

automobile automobile industry automobiles automobiles news banner business technology
Share. Facebook Twitter Pinterest LinkedIn Email Telegram WhatsApp
News Desk
  • Website

Related Posts

South India’s Best-Kept Hill Station Secrets

31 May 2025

NDA Welcomes Its First Female Graduates

31 May 2025

Dubai Lottery’s Rare Repeat Winner from Kerala

31 May 2025

Government Media Lets Creators Use Content for Free

31 May 2025
Add A Comment

Comments are closed.

Careers
Recent Posts
  • South India’s Best-Kept Hill Station Secrets
  • NDA Welcomes Its First Female Graduates
  • Dubai Lottery’s Rare Repeat Winner from Kerala
  • Government Media Lets Creators Use Content for Free
  • Wrecked Cargo Ship Prompts Kerala’s Official Action
Editors Picks

South India’s Best-Kept Hill Station Secrets

31 May 2025

NDA Welcomes Its First Female Graduates

31 May 2025

Dubai Lottery’s Rare Repeat Winner from Kerala

31 May 2025

Government Media Lets Creators Use Content for Free

31 May 2025
About Us
About Us

The first exclusive digital video media platform for startups and future business leaders, Channel I’M, the brainchild of Mrs. Nisha Krishan, unveils the first glimpse of how Indian startups think/create/market futuristic products and services.

Subscribe to Updates

Get the latest creative news about entrepreneurs, startups, and businesses.

Updates
  • South India’s Best-Kept Hill Station Secrets
  • NDA Welcomes Its First Female Graduates
  • Dubai Lottery’s Rare Repeat Winner from Kerala
  • Government Media Lets Creators Use Content for Free
  • Wrecked Cargo Ship Prompts Kerala’s Official Action
YouTube Facebook X (Twitter) Instagram Pinterest LinkedIn RSS
  • Home
  • About Us
  • Promotions
  • Careers
  • Contact Us
© 2025 Likes and Shares Pvt Ltd. Powered By arbaneo

Type above and press Enter to search. Press Esc to cancel.

Change Language
Malayalam
Hindi
Tamil
Change Language
Malayalam
Hindi
Tamil