5 companies shortlisted for Centre's PLI scheme for hydrogen fuel cell EVs
New Delhi: The government has chosen five companies - Ashok Leyland, Eicher Motors, Pinnacle Mobility, Tata Motors, and Booma Innovative - to manufacture hydrogen fuel cell electric vehicles under the production-linked incentive scheme for the automobile and auto component industry (PLI-Auto) worth Rs 25,938 crore, Minister of State for Heavy Industries, Krishan Pal Gurjar, has informed the Lok Sabha
“Several automobile companies have expressed their interest to set up their manufacturing units and invest in India for hydrogen fuel cell-powered automobiles. So far, five companies have been approved under the PLI Auto scheme,” Gurjar said in a written reply on Tuesday.
The five original equipment manufacturers (OEMs) mentioned above are part of the Ministry of Heavy Industries' 20 approved applicants for its Champion OEM Incentive scheme. The PLI-Auto scheme is valued at Rs 25,938 crore and comprises two components - Champion OEM and Component Champion.
The Champion OEM Incentive scheme is a sales value-linked initiative, which is relevant for all segments of battery electric vehicles and hydrogen fuel cell vehicles.
As per MHI data, the PLI-Auto scheme has garnered a proposed investment of Rs 74,850 crore, which exceeds the anticipated investment target of Rs 42,500 crore over a five-year period.
Out of this amount, approved applicants under the Champion OEM Incentive Scheme have proposed an investment of Rs 45,016 crore, while the approved applicants under the Component Champion Incentive Scheme have proposed an investment of Rs 29,834 crore.
According to Minister Krishan Pal Gurjar, several original equipment manufacturers (OEMs) such as Ashok Leyland, Cummins, Tata Motors, and Volvo Eicher Commercial Vehicle (VECV) are developing hydrogen internal combustion engines for Heavy Commercial Vehicle applications. Some of these OEMs already have prototypes of hydrogen engines and vehicles ready. In addition, Tata Motors and Indian Oil Corporation Limited (IOCL) plan to demonstrate fuel cell buses in Delhi.
The Indian government is also promoting research and development projects on hydrogen-based internal combustion engines, hydrogenated compressed natural gas, and diesel and hydrogen-fueled vehicles across the country.
The government is relying on various schemes, including the Rs 25,938 crore PLI-Auto scheme, the Rs 18,100 crore PLI scheme for Advanced Chemistry Cell, and the Rs 10,000 crore Faster Adoption of Manufacturing of Electric Vehicles (FAME) scheme, to transition the country from traditional fossil fuel-based transportation to a more efficient and sustainable electric vehicle-based system.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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