New Delhi, Jan. 1 -- The government released a total of Rs 1,999.94 crore in fiscal 2024-25 to five approved applicants under the Production Linked Incentive (PLI) Scheme for the Automobile and Auto Components sector, Ministry of Heavy Industries said in a release.

The scheme is aimed at strengthening India's manufacturing ecosystem in Advanced Automotive Technology products.

The scheme has a total budgetary outlay of Rs 25,938 crore and covers a five-year performance period from FY 2023-24 to FY 2027-28.

Incentives Linked to Electric Vehicle Production

Under the PLI Auto Scheme, incentives have been extended for the production and sale of over 13.61 lakh electric vehicles across categories. This includes 10.42 lakh electric two-wheel...