· Government of India announces Production Linked Incentive (PLI) scheme for automobiles industry
New Delhi : RattanIndia Enterprises Ltd which has backed Revolt e bikes has welcomed the Production Linked Incentive (PLI) scheme announced by the Govt. of India today for automobile industry with a budgetary outlay of ₹ 26,058 crore. The PLI scheme announced 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.
Anjali Rattan Nashier, Business Chair, RattanIndia Enterprises Ltd. said “This Production Linked Incentive (PLI) scheme for auto industry with a decided shift to promote clean and green electric vehicles in the country is a fantastic step by the government. It will help develop the high tech EV manufacturing ecosystem in the country and will accelerate EV adoption in the country.”