The Union cabinet today, approved a production-linked incentive (PLI) scheme, with an outlay of Rs 26,000 crore for the automobile sector. The scheme will aim to boost the electric and hydrogen fuel cell vehicles in the country. The announced scheme will be effective from FY23 for five years, with the base year being 2019-2020. A total of 10 vehicle manufacturers, 50 auto component makers and five new non-automotive investors will benefit from the scheme. The scheme has been further modified to focus on the advanced automotive technologies and CNG, petrol and diesel vehicle makers, will not be covered under this scheme.
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