Sona Comstar Receives Auto PLI Certification
Sona Comstar has achieved a significant milestone by securing certification under the auto Production Linked Incentive (PLI) scheme. The company, operating under the brand Sona BLW Precision Forgings, is now officially recognized as the first automotive component company to receive this prestigious certification in India.
What is the PLI Scheme?
● The Production Linked Incentive (PLI) scheme was introduced by the Indian government in 2021.
● Its primary goal is to incentivize domestic production of high-value advanced automotive technology vehicles and components.
● Under this scheme, eligible companies receive financial incentives based on their production performance and investments in the specified sectors.
Sona Comstar’s Achievement:
● Sona Comstar secured certification for its hub wheel drive motor, specifically designed for electric two-wheelers.
● This component plays a crucial role in the rapidly evolving electric vehicle (EV) market.
● By achieving PLI certification, Sona Comstar demonstrates its commitment to leveraging India’s engineering skills and solving complex engineering challenges for its customers.
Budgetary Outlay and Duration:
● The PLI scheme has a substantial budget of Rs 25,900 crore allocated over five years, starting from FY24.
● The scheme aims to catalyze growth and innovation within the automotive and auto component sectors.
Government’s Objectives:
● Encourage domestic manufacturing of advanced automotive technologies.
● Boost employment generation and skill development in the sector.
● Enhance India’s position as a global hub for cutting-edge automotive technology.
● Drive sustainable mobility by promoting electric vehicles and related components.
“This recognition reaffirms the company’s commitment to making India proud of its engineering skills and solving complex and customized engineering problems for its customers,”
Sona Comstar MD & Group CEO Vivek Vikram Singh
Sona Comstar’s achievement not only contributes to the growth of the electric vehicle ecosystem but also reinforces India’s position as a hub for cutting-edge automotive technology. As the nation accelerates its transition towards sustainable mobility, Sona Comstar’s certification is a significant step forward in shaping the future of electric mobility in India.