Mahindra & Tata Secure Rs 246 Crore Incentives Under PLI Scheme

The Ministry of Heavy Industries has approved claims worth Rs 246 crore by Mahindra & Mahindra and Tata Motors under the Rs 25,938 crore PLI scheme for the automobile sector. The initiative aims to boost India's manufacturing of advanced automotive technology products, focusing on domestic value addition and supply chain enhancement.

The Ministry of Heavy Industries has sanctioned incentive claims totaling Rs 246 crore for Mahindra & Mahindra and Tata Motors. These claims fall under the ambitious Rs 25,938 crore PLI scheme designed to propel the automobile and auto components industry, officials announced.

Minister for Heavy Industries and Steel H D Kumaraswamy lauded the progress made by original equipment manufacturers in achieving localized production, thanks to initiatives like the PLI scheme. He commended Tata Motors and Mahindra & Mahindra for their advancements and expressed optimism that more companies would leverage the scheme.

Tata Motors claimed incentives worth approximately Rs 142.13 crore, highlighting sales of electric vehicle models such as Tiago EV, Starbus EV, and Ace EV totaling Rs 1,380.24 crore. Mahindra & Mahindra submitted claims of Rs 104.08 crore, with sales from e3W models, including Treo and Zor Grand, reaching Rs 836.02 crore. The Project Management Agency has vetted and approved these claims.

(With inputs from agencies.)