The government has approved incentive payments totaling ₹246 crore to Mahindra & Mahindra (M&M) and Tata Motors under the Production Linked Incentive (PLI) scheme for the auto industry. The scheme, worth ₹25,938 crore, aims to boost domestic manufacturing of advanced automotive technologies. The Heavy Industries Minister H D Kumaraswamy praised both companies for their progress in developing this capability, expressing confidence that more applicants would benefit from the PLI scheme. Tata Motors received ₹142.13 crore while M&M received ₹104.08 crore based on their electric vehicle sales in the 2023-24 fiscal year. M&M's claim included a cumulative investment of ₹978.30 crore and certification of domestic value addition from the Automotive Research Association of India. The PLI scheme for the auto and auto components industry runs from 2023-24 to 2027-28, with payouts scheduled between 2024-25 and 2028-29, offering incentives for components related to electric vehicles, hydrogen fuel cells, and other advanced technologies. By September 2024, the scheme had generated ₹20,715 crore in investments and ₹10,472 crore in incremental sales. The first incentive payments are expected in 2024-25, aiming to drive further growth in the sector.