These are the official quotes from Schaeffler India:
“The Production Linked Incentive (PLI) scheme approval will be a catalyst for our mission of advancing conventional mobility to sustainable mobility through development of intelligent components, systems and services. The scheme will help in creation of economies of scale and robust supply chain in the areas of advanced automotive technology products while overcoming the cost challenges throughout the value chain thereby helping us to gain a competitive edge and drive export capacity.”_ Harsha Kadam, MD & CEO, Schaeffler India
“The Production Linked Incentive (PLI) scheme has received an overwhelming industry response with a 76% higher than anticipated target. We are confident that the scheme approval provided for Schaeffler India will create significant opportunities in the automotive market through our innovative products. The scheme has given us the impetus to localize our high precision products for future mobility needs and boost manufacturing activities locally, further strengthening the Best Cost Country status for India for manufacturing activities.”_ Sanjeev Saxena, President (Automotive), Schaeffler India
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