- The SOPs aim to promote local manufacturing and reduce dependence on imports, thereby boosting the Indian economy.
- The applicants under the scheme can now submit their applications for the testing and certification of advanced automotive technology (AAT) products (both OEMs and components), which will help them qualify for incentives under the PLI Auto scheme.
- The PLI Auto scheme has a budgetary outlay of 25,938 crore rupees and proposes financial incentives to boost domestic manufacturing of AAT products and attract investments in the automotive manufacturing value chain.
- The scheme has two parts: Champion OEM, which will make electric or hydrogen-powered vehicles, and Component Champions, which will make high-value and high-tech components
Question:
Q.1 What are the two parts of the PLI Auto scheme?a. Champion Hydrogen and Component Hydrogen
b. Champion Auto and Component Auto
c. Champion EV and Component EV
d. Champion OEM and Component Champions
