Bajaj Auto Leads FY26 Auto PLI Payouts at ₹625.65 Crore, Ahead of Tata Motors and Ola Electric

Bajaj Auto received ₹625.65 crore under the ₹25,938 crore Production Linked Incentive scheme for automobiles and auto components in financial year 2026, ahead of Tata Motors and Ola Electric Technologies.  

A report released in November 2026 by NITI Aayog and the Indian Institute of Management Ahmedabad detailed that cumulative disbursements stood at ₹2,386.36 crore as of March 2026, representing 9.2% of the total outlay. 

Company Wise FY26 Incentive Payouts 

In financial year 2026, Bajaj Auto received ₹625.65 crore, followed by Tata Motors at ₹403.18 crore, Ola Electric at ₹366.78 crore, TVS Motor at ₹320.51 crore, and Mahindra and Mahindra at ₹283.82 crore.  

Together, these 5 automakers received nearly ₹2,000 crore, compared to total scheme disbursements of around ₹322 crore in financial year 2025 when Bajaj Auto and TVS Motor received ₹0. 

Investments, Employment, and Incremental Sales Progress 

By March 2026, investments under the scheme reached ₹44,326 crore, exceeding the 5 year projection of ₹42,500 crore by 4%.  

Employment generation stood at 67,820 jobs against a target of 1,48,147 jobs, reaching 46% of the projection, while cumulative incremental sales stood at ₹52,414 crore, or 23% of the ₹2.31 lakh crore 5 year target. 

Electric Vehicle Production and Domestic Value Addition 

Incentivised electric vehicle production volumes rose from 76,838 units in financial year 2024 to nearly 12,85,000 units in financial year 2025, including over 10,00,000 electric 2 wheelers, nearly 2,15,000 electric 3 wheelers, and 68,226 electric 4 wheelers.  

Under the mandatory 50% domestic value addition requirement, 8 Champion Original Equipment Manufacturer applicants secured certification for 94 variants, while 10 Component Champion applicants received certification for 37 variants. 

Read More: Ola Electric Share Price in Focus Ahead of Q2FY27 Earnings Call on November 12, 2026! 

Conclusion 

Under the ₹25,938 crore auto PLI scheme, Bajaj Auto received ₹625.65 crore in financial year 2026, while cumulative investments reached ₹44,326 crore, employment reached 67,820 jobs, and incremental sales stood at ₹52,414 crore by March 2026. 

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