Mahindra & Mahindra and Tata Motors have jointly claimed a total of Rs 246 crore under the production linked incentive (PLI) scheme for incremental production as announced by heavy industries minister H D Kumaraswamy. This initiative supports the Automobile and Auto Components Industry, providing incentives for Electric Vehicles and Hydrogen Fuel Cell components. The scheme, with a budgetary allocation of Rs 25,938 crore, aims to enhance India's manufacturing capabilities in Advanced Automotive Technology (AAT) products and establish a robust supply chain. Incentives under the PLI scheme range from 13% to 18% for components related to Electric Vehicles and Hydrogen Fuel Cells, while other AAT components receive incentives between 8% and 13%. Both Mahindra & Mahindra and Tata Motors have submitted claims under the scheme, with Mahindra & Mahindra claiming Rs 104.08 crore and Tata Motors Rs 142.13 crore for determined sales in fiscal 2023-24. The total investments due to the PLI scheme have reached Rs 20,715 crore, resulting in incremental sales worth Rs 10,472 crore. The scheme, operational from fiscal 2023-24 to 2027-28, is expected to boost the automotive industry in India by encouraging investments, enhancing manufacturing capabilities, and promoting the adoption of Electric Vehicles and other Advanced Automotive Technology products.