In 2021, the government launched a five-year output-linked incentive scheme with a budget of Rs 25,938 crore to enhance local production of advanced automotive technology products.
Sona Comstar has reached a significant milestone in its journey toward advancing electric mobility in India. On April 2, 2024, the company received certification for its second hub wheel motor designed for electric two-wheelers under the Production-Linked Incentive (PLI) Scheme for the Automobile and Auto Component Industry in India (PLI-Auto). This certification, granted by the Ministry of Heavy Industries as per their approval letter no. GARC/PLI/AUTO/2024-008 dated March 30, 2024, enables Sona Comstar to access benefits and incentives under the PLI Scheme, as outlined in their regulatory filing.
The PLI Scheme, introduced by the government in 2021, is a transformative initiative with a budgetary allocation of Rs 25,938 crore over five years. It aims to bolster domestic manufacturing capabilities in advanced automotive technology products and attract significant investments in the automotive manufacturing value chain. The scheme’s duration has recently been extended by an additional year, now concluding on March 31, 2028, to propel further the growth and development of the automotive sector in India.
Sona Comstar, headquartered in Gurugram, is at the forefront of automotive technology innovation. It specializes in designing, manufacturing, and supplying highly engineered automotive systems and components to original equipment manufacturers (OEMs) worldwide. The company has a global footprint, with facilities and capabilities in India, the USA, Serbia, Mexico, and China. In February, Sona Comstar became the first Indian automotive supplier to receive certification under the PLI scheme, marking a significant achievement in its commitment to advancing sustainable and advanced automotive technologies in India.
