Medium and Heavy Commercial Vehicle Automotive Investment Scheme by EDC
The Medium and Heavy Commercial Vehicle Automotive Investment Scheme (MHCV-AIS) is a subcomponent of the automotive investment scheme.
The incentive programme is available to manufacturers of trucks, bus chassis, trucks and bus bodies together with component manufacturers supplying these industries. Qualifying costs against which incentive benefits may be claimed include:
- Newly acquired buildings
- New and/or second-hand, refurbished and upgraded plant, machinery and tooling.
Component manufacturers may also qualify for competitiveness improvement costs where these costs may include:
- Process improvements
- Product improvements
- Quality standards
- Skills development and information technology systems.
Manufacturers of medium and heavy commercial vehicles may qualify for a non-taxable grant of between 20% and 30% while component manufacturers and tooling manufacturers may qualify for a non-taxable cash grant of between 25% and 35%. The application is required to be submitted at least 120 days (heavy commercial motor vehicle manufacturers) and 90 days (component manufacturers and tooling manufacturers) prior to the qualifying investment.