Hero MotoCorp gets approval for PLI-Auto scheme
New Delhi: Hero Motocorp Ltd, India’s largest two -wheel manufacturer with sales, received approval to make it a part of the electric scooter. LaAccording to the portal of the scheme, 25,938 Crore production linked incentive scheme for automobiles and parts of automobiles (PLI-Auto).
The approval of the test agencies came on July 8 for the Vida V2 Pro model, which allows the company to request incentives from the Ministry of Heavy Industries.
Approval, Ola Electric Mobility Ltd, TVS Motor Co. LTD and Bajaj Auto Ltd.
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The PLI-automatic schema was inseparable to increase the limits of electric vehicle manufacturers in the country.
Finance Manager Vivek Anand, Hero Motocorp Ltd, during the company’s call for earnings on May 14, the company’s PLI benefit with localization of the material invoice (BOM) costs will make the company’s operations profitable.
In the application process
He then said that the company was in the process of applying Pli Sops for more than one model and expects approval until July.
Hero Motocorp is the 17th company that approves its models within the scope of the plan and has initiated the process of confirming other models.
Hero Motocorp, in May, referring to the data from the Federation of Automobile Dealers ‘Associations (Fada), according to MINT’s report, electrical scooters’ sales of 175% increased.
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According to the Central Vahan Portal, the Central Registry of the vehicles, the company had a 4.2% market share among the two -wheel devices in the FY25.
Pays under the Pli-automatic scheme are low, approximately La322 Crore has reached companies approved in 25 financial years. Even though 16 companies were approved for Plis before Hero Motocorp, they received these payments up to 25.
About Tata Motors and Mahindra & Mahindra La246 Crore in January 2025, then LaIn March, 73.74 Ola Electric to Crore. Heavy Industries said that on March 26, Toyota dirty automobile parts also received payments, but did not explain the amount.
Union Heavy Industries Minister HD Kumaraswamy told Mint in June, an increase in 26 financial years.
Nine COS to make PLI claims
The Minister said he was waiting for the government’s allegations. La2,000 Crore from nine companies in FY26.
Within the scope of the Election Framework Program to support the production of zero emission vehicles, manufacturers receive 13-18% of their increasing sales as recoil.
Manufacturers have to obtain at least 50% of the components locally.
For electric vehicles, important production components such as cells should be imported, others can be caused by manufacturers of Indian automobile components.
Also read | About 12 companies including Bhel and Kia Motors will be excluded from Auto Pli
According to the PLI-Auto guidelines, manufacturers also have to meet their investment targets within the scope of the plan or to make a face lifting process. Vehicle manufacturers in office must have at least annual income La10,000 CRORE AND INVESTMENT La3,000 crore in fixed assets. Thresholds for component manufacturers La500 CRORE COMES AND La150 Crore in investment.
New participants from outside the automatic sector have a global net value LaIt should invest more than five years and invest more than five years.
PLI -approved automobile products to the staff continuously, electric vehicles sales, 25 financially increased by 17% to more than 1.9 million in the 25%, in the 24 financial year rose to approximately 1.6 million.
