Steel Strips Wheels Limited (SSWL) has been informed on January 16, 2026, that it stands ineligible under the Production Linked Incentive (PLI) scheme for the Automobile and Auto Component Sector. This ineligibility stems from the company being unable to identify products listed under the scheme for investment, despite sincere efforts.

Previously, SSWL had entered into a Memorandum of Understanding (MOU) with Redler Technologies Limited for a joint venture in India to develop, manufacture, and market motion control solutions for electric vehicles. This was a product eligible under the PLI scheme. However, the Board of Directors, in a meeting held on August 29, 2024, approved calling off discussions for this joint venture due to the war situation in Israel.

While SSWL is actively investing in other products aligned with its business strategy, these are not covered by the PLI scheme. The company has received intimation regarding the invocation of the bank guarantee submitted as per the scheme's requirements, confirming its ineligibility. SSWL expressed its appreciation for the government's support and hopes to explore similar initiatives in the future.