Mahindra & Mahindra becomes the first company to receive eligibility certificate under Auto PLI scheme

With this, Mahindra Last Mile Mobility becomes the first recipient to meet the criteria for the Automotive PLI certificate from ARAI for their commitment to indigenisation of advanced automotive technology products, thereby bolstering the domestic production ecosystem under the aegis of “Make in Bharat Abhiyan”.

Anand Mahindra in a tweet said "I am incredibly proud of our Mahindra Last mile mobility team led by Suman Mishra, CEO at Mahindra Last Mile Mobility who scripted a piece of history by qualifying for the first Production Linked Incentive certificate in the Auto industry. I know how many sleepless nights you guys put in to earn this privilege. Now let’s ensure that the government’s & the regulators’ trust in us is well-placed, by producing and selling vehicles in volumes that are of global scale.

The homegrown auto major Mahindra & Mahindra (M&M) reported a 22 percent jump in its standalone profit after tax at Rs 1,549 crore for the quarter ended March 31, 2023. The same was Rs 1,269 crore in the corresponding quarter of last fiscal and Rs 1,528 crore in the December quarter. The profit figure was much lower as against CNBC-TV18 poll of Rs 1,756 crore.