Tata Motors Gets India’s First Auto PLI Certificate In 4W Goods Category For Ace EV
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Highlights
- Tata Motors has received the PLI Certificate for the Ace EV
- This is the first PLI Certificate presented by ARAI for the Auto Sector in 4-wheeler goods vehicle catagory
- The PLI scheme was introduced in 2021 to boost local production
Tata Motors, the country’s largest commercial vehicle manufacturer by volume, has received India’s first Auto Production Linked Incentive (PLI) certificate in the N1 (4-wheeler goods vehicle) category. The Automotive Research Association of India (ARAI) presented the certificate to Tata Motors for the all-electric Ace EV. Tata Motors was one of the many Original Equipment Manufacturers (OEMs) who filed for the PLI scheme back when it was introduced in 2021.
The Automotive Research Association of India (ARAI) presented the certificate to Tata Motors for the all-electric Ace EV
The PLI scheme was introduced to boost local production to overcome cost disabilities, create economies of scale, generate employment and build a robust supply chain. This was mainly for areas of Advanced Automotive Technology products like vehicles and auto components. The Cabinet has approved an incentive plan of Rs. 26,000 crore for the auto sector.
Also Read: Tata Motors Awarded Rs 765.78 Crore Compensation in Singur Manufacturing Plant Dispute
“ARAI reaches a significant professional milestone! We proudly award the First Auto PLI certificate in N1 Category (4W - Goods) to M/s Tata Motors Ltd., following the meticulously defined SOP of the Automotive PLI scheme by the Ministry of Heavy Industries (MHI),” the Auto R&D body said in its official social media handle.
Also Read: Auto Sales October 2023: Tata Motors Domestic Sales Grows By 6 Percent
The Central Government extended the PLI scheme for the auto sector till FY 2028
Over 115 automobile and automobile-related ancillary companies filed for the Production Linked Incentive (PLI) Scheme in India when it was first announced. While initially it was planned to be active for a five-year period – from FY 2022–23 to FY 2026–27 - earlier this year the Central Government extended the scheme for the auto sector by an additional year. So, all eligible OEMs will be able to avail of the benefits till FY 2027-28.
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