Ministry of Heavy Industries

PM E-DRIVE: Officials say regular checks will ensure better compliance in PM E-DRIVE

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PM E-DRIVE: Officials say regular checks will ensure better compliance in PM E-DRIVE

The centre will conduct bi-annual inspections to ensure companies getting subsidies under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme are complying with localisation norms. This Rs 10,900 crore flagship scheme for promoting clean mobility under the Ministry of Heavy Industries (MHI) aims to subsidise domestically made electric buses, trucks, ambulances, … Read more

Ola Electric shares: Ola Electric shares slip 7% as profit-taking hits stock

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Ola Electric shares: Ola Electric shares slip 7% as profit-taking hits stock

Shares of newly listed Ola Electric Mobility fell 7% to Rs 128.2 in Thursday’s intraday trade on the BSE amid profit booking. The 2-wheeler EV player stock has experienced a spectacular rally since its listing, with the stock surging as much as 107% to its 52-week high of Rs 157.5, which it touched on August … Read more

Ola Electric shares: Ola Electric shares rise over 4% after PLI approval for two more vehicle models

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Ola Electric shares: Ola Electric shares rise over 4% after PLI approval for two more vehicle models

Ola Electric Mobility shares rose 4.4% to Rs 143.8 in Wednesday’s trade on BSE after the electric two-wheeler maker received certification for production-linked incentive (PLI) benefits for two more of its vehicles. The 3 kWh (kilowatt hour) and 4 kWh versions of Ola S1X have received the certification for compliance with the eligibility requirement for … Read more

pli: Automobile industry will contribute to India’s rise as third largest economy

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pli: Automobile industry will contribute to India’s rise as third largest economy

Indian automobile industry will have the highest contribution to the country’s rise as the third largest economy, Heavy Industries Minister Mahendra Nath Pandey said Tuesday. Speaking at the auto Production Linked Incentive (PLI) conclave in New Delhi, he said, “India is today the fifth largest economy in the world and soon India will be the … Read more

Auto PLI scheme: Govt extends tenure of PLI scheme for Auto industry by a year with partial amendments

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Auto PLI scheme: Govt extends tenure of PLI scheme for Auto industry by a year with partial amendments

The Ministry ofHeavy Industries on Monday issued a Gazette notification to extend the tenure of Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year with partial amendments to provide clarity and flexibility to the scheme. “This decision has been made after receiving the approval of the Empowered Group of Secretaries (EGoS),” … Read more

PLI scheme: Centre extends auto PLI by a year

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PLI scheme: Centre extends auto PLI by a year

The centre has extended the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by a year. A statement from the Ministry of Heavy Industries (MHI) said this decision has been made after receiving the approval of the Empowered Group of Secretaries (EGoS). These amendments aim to provide clarity and flexibility to the scheme. … Read more