Full List of Approvals Released: PLI Scheme for Automobile and Auto Components Industry

Posted by Written by Naina Bhardwaj and Melissa Cyrill Reading Time: 6 minutes

The government has released the full list of beneficiaries for the Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry. On March 15, 2022, 75 companies secured PLI approval under the Component Champion Incentive Scheme, including Maruti Suzuki, Hero MotoCorp, Tata Autocomp, Mitsubishi Electric, Toyota Kirloskar, Motherson Sumi,  Bosch, and Lucas-TVS. Previously, on February 11, 2022, 20 companies were approved as PLI beneficiaries under the “Champion OEM Incentive Scheme”. Altogether, the approved applicants (including existing automotive and auto component firms and new non-automotive industry investors) have proposed investments worth INR 450.16 billion (US$5.88 billion) under the Champion OEM Incentive Scheme and INR 298.34 billion (US$3.90 billion) under the Component Champion Incentive Scheme.


On September 15, 2021, India’s central government approved the ‘Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry in India for Enhancing India’s Manufacturing Capabilities for Advanced Automotive Products (AAT)’ with a budgetary outlay of INR 259.38 billion (US$3.50 billion) to boost domestic manufacturing capacity and attract investments to the automotive manufacturing value chain.

The PLI focus is on emerging industry capabilities as it aims to push forward India’s transition to clean energy, along with accelerating the country’s share in the global automotive trade (unit production and components sourcing). The PLI scheme for the automotive industry will be implemented over a period of five years, starting from FY 2022-23. FY 2019-2020 will be treated as the base year for calculation of eligible sales upon which incentives will be disbursed.

What industry watchers expect

The PLI scheme will incentivize cost efficient manufacturing of high value advanced automotive technology vehicles and products like sunroofs, adaptive front lighting, automatic braking, tire pressure monitoring systems, and collision warning systems, etc.

According to the recently released report by credit ratings agency ICRA, the PLI will not only boost localization, but also accelerate investments towards developing a local EV ecosystem and has the potential to make India an export hub in the global auto supply chain. It will aid in expanding India’s participation in the global supply chains of these advanced automotive technology products by encouraging key industry players to make fresh investments (expected to be over INR 425 billion) over the next five years. The investments are further expected to translate into an incremental production of over INR 2.3 trillion (US$30.07 billion).

The PLI scheme for the automotive industry also intends to promote higher-tech green manufacturing, and will benefit from the INR 181 billion (US$2.42 billion) PLI scheme for advanced chemistry cell manufacturing as well as the Faster Adoption of Manufacturing of Hybrid and Electric Vehicles (FAME) scheme. These schemes are likely to become essential to India’s clean energy goals, enabling the country to transition from fossil fuel-dependencies to an environmentally sustainable and more efficient electric vehicle (EV)-based transportation system. Consequently, they will facilitate India’s commitment towards reducing carbon emissions and oil imports.

Who are the target beneficiaries of the PLI scheme for the automobile and auto component industry?

The PLI scheme seeks to benefit makers of advanced automotive technologies or auto components – whose domestic supply chains are weak, dormant, or non-existent. The PLI scheme was made open to both existing companies and new investors. The scheme excludes conventional petrol, diesel, and CNG segments (internal combustion engine) since these have sufficient production capacity in India.

The PLI policy targeting auto parts include the following component schemes.

Champion Original Equipment Manufacturers (OEM) Scheme

It is a sales value linked plan, applicable to battery electric and hydrogen fuel cell vehicles of all segments.

List of approved applications

As of February 11, 2022, 20 applicants have been approved under this scheme, who has proposed investments worth INR 450.16 billion.

Approved PLI Applicants – Champion OEM (Except 2W & 3W)

S. No.

Company applicant name


Ashok Leyland Limited


Eicher Motors Limited


Ford India Private Limited


Hyundai Motor India Limited


Kia India Private Limited


PCA Automobiles India Private Limited


Pinnacle Mobility Solutions Private Limited


Suzuki Motor Gujarat Private Limited


Tata Motors Limited


Mahindra & Mahindra Ltd.

Approved PLI Applicants – Champion OEM 2W & 3W

S. No.

Company applicant name


Bajaj Auto Limited


Hero MotoCorp Ltd.


Piaggio Vehicles Private Limited


TVS Motor Company Limited

Approved PLI Applicants – New Non-Automotive Investor (OEM)

S. No.

Company applicant name


Axis Clean Mobility Private Limited


Booma Innovative Transport Solutions Private Limited


Elest Private Limited


Hop Electric Manufacturing Private Limited


Ola Electric Technologies Private Limited


Powerhaul Vehicle Private Limited

Champion Incentive Scheme

It is a sales value linked plan for advanced technology components, complete and semi-knocked down (CKD/SKD) kits, vehicle aggregates of two-wheelers, three-wheelers, passenger vehicles, commercial vehicles and tractors, including automobiles meant for military use and any other advanced automotive technology components prescribed by the Ministry of Heavy Industries – depending upon technical developments.

Full list of approvals announced – March 15, 2022

75 companies have secured PLI approval under the Component Champion Incentive Scheme. The beneficiaries include Maruti Suzuki, Hero MotoCorp, Tata Autocomp, Mitsubishi Electric, Toyota Kirloskar, Motherson Sumi, Bosch, and Lucas-TVS.

The Ministry of Heavy Industries has released the full list:

Existing automobile and auto component manufacturing companies approved under Component Champion Incentive Scheme:

1. Maruti Suzuki India Limited

2. Pinnacle Mobility Solutions Private Limited

3. Bharat Forge Limited

4. Hero MotoCorp Ltd.

5. Advik Hi-Tech Private Limited

6. Aisin Automotive Haryana Private Ltd.

7. Alicon Castalloy Limited

8. Aptiv Components India Private Limited

9. Aptiv Connection Systems India Private Limited

10. Asahi India Glass Ltd.

11. Asia Investments Private Limited

12. Automotive Axles Limited

13. Axletech India Private Limited

14. BASF Catalysts India Private Limited

15. Bosch Automotive Electronics India Private Limited

16. Bosch Chassis Systems India Private Limited

17. Bosch Limited

18. Cummins Technologies India Private Limited

19. Daicel Safety Systems India Private Limited

20. Dana Anand India Private Limited

21. Dana TM4 India Private Limited

22. Danblock Brakes India Private Limited

23. Delphi-TVS Technologies Limited

24. Denso Ten Minda India Private Limited

25. Garrett Motion Technologies India Private Limited

26. Hella India Automotive Private Limited

27. Hero Cycles Limited

28. Imperial Auto Industries Limited

29. International Tractors Limited

30. J.K. Fenner (India) Limited

31. Jay Ace Technologies Limited

32. Jay Fe Cylinders Limited

33. KalyaniTechnoforge Limited

34. Krishna Landi Renzo India Private Limited

35. Krishna Maruti Ltd.

36. Kyungshin Industrial MothersonPvt Ltd

37. Linchpin Technologies Private Limited

38. Lucas-TVS Limited

39. Lumax Auto Technologies Limited

40. MahleAnand Thermal Systems Private Limited

41. Mando Automotive India Private Limited

42. Minda Corporation Limited

43. Minda Industries Limited

44. Mitsubishi Electric Automotive India Private Limited

45. Motherson Sumi Systems Limited

46. Motherson Sumi Wiring India Limited

47. Musashi Auto Parts India Private Limited

48. Napino Auto and Electronics Limited

49. Neel Metal Products Limited

50. Neolite ZKW Lightings Private Limited

51. Nidec India Private Limited

52. Padmini VNA Mechatronics Limited

53. Pricol Limited

54. Rockman Industries Limited

55. Sandhar Technologies Limited

56. Sansera Engineering Limited

57. Schaeffler India Limited

58. Sharda Motor Industries Limited

59. Sona BLW Precision Forgings Limited

60. Steel Strips Wheels Limited

61. Sundram Fasteners Limited

62. Tata Autocomp Systems Limited

63. Tata Cummins Private Limited

64. Tata Ficosa Automotive Systems Private Limited

65. The Hi-Tech Gears Limited

66. Toyota Industries Engine India Private Limited

67. Toyota Kirloskar Auto Parts Private Limited

68. Tube Investments Of India Limited

69. Valeo India Private Limited

70. Varroc Engineering Limited

71. Vitesco Technologies India Private Limited

72. Wabco India Limited

73. Yazaki India Private Limited

New non-automotive investor (component) companies:

1. Bharat Heavy Electricals Limited

2. Ceat Limited

Key guidelines for PLI scheme approvals

An approved applicant shall be eligible for benefits for five consecutive financial years with FY 2019-20 being treated as the base year for calculation of eligible sales. The eligibility criteria have been specified below.

Eligibility criteria for existing automotive companies

An existing automotive company or its group companies will be required to meet the basic eligibility criteria to receive incentives.

Basic Eligibility Criteria PLI scheme Indian Automobile industry

Eligibility criteria for new non-automotive companies

A new non-automotive investor company or its group companies will be defined as those who have no revenue from the manufacturing of automobile or auto components as on March 31, 2021. They can qualify for the PLI scheme provided they present a clear business plan to invest in India and generate revenues from advanced automotive technology vehicles or advanced automotive technology components manufacturing. A new applicant must satisfy the entire eligibility criteria.

PLI eligibility criteria for new non-automotive companies India

Minimum new cumulative domestic investment criteria

Besides the above eligibility criteria, the Minimum New Cumulative Domestic Investment has to be achieved by both the existing automotive companies as well as the new non-automotive investor companies starting from April 1, 2021.

Minimum New Cumulative Domestic Investment - PLI Auto Industry

Incentive Slabs for Champion OEM and New Non-Automotive (OEM) Investor Company

Incentive Slabs for OEMs announced under PLI scheme for Indian Automobile Industry

Here it must be noted that only those battery EVs will be eligible for incentives, which meet the performance criteria of the FAME-II scheme or as notified from time to time by the Ministry of Heavy Industries.

Incentive slabs for Auto Component companies announced under the PLI scheme for Indian Automobile industry

This article was originally published October 6, 2021. It was last updated March 15, 2022.

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