RattanIndia Enterprises welcomes Govt.’s PLI scheme focused on electric vehicles – EQ Mag Pro
RattanIndia Enterprises welcomes the Production Linked Incentive (PLI) scheme announced by the Govt. of India today for automobile industry with a budgetary outlay of Rs 26,058 crore.
As per the press release by Govt. of India – this PLI scheme for the auto sector will incentivize high value Advanced Automotive Technology vehicles and products.
It will herald a new age in higher technology, more efficient and green automotive manufacturing.
The new PLI for auto sector is focused to promote green and clean electric vehicles.
The Champion OEM Incentive scheme is a ‘sales value linked’ scheme, applicable on Battery Electric Vehicles of all segments. Rattanindia Enterprises backed Revolt is already the market leader in EV bikes in India with its AI enabled state of the electric bikes.
This PLI Scheme for automotive sector comes in addition to Faster Adaption of Manufacturing of Electric Vehicles (FAME) incentive scheme for electric vehicles with a budgetary outlay of ₹10,000 crore. This will enable India to leapfrog from traditional fossil fuel based automobile transportation system to environmentally cleaner, sustainable, advanced and more efficient Electric Vehicles (EV) based system.
Source: Capital Market
