TL;DR
Ola Electric has been sanctioned ₹366.78 crore in incentives under the government's PLI-Auto Scheme for FY25, reinforcing its domestic manufacturing and localization efforts.
Ola Electric has received a sanction order from the Ministry of Heavy Industries for the release of ₹366.78 crore in incentives under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components (PLI-Auto) for claims pertaining to FY25. This significant incentive, disbursed through IFCI Ltd, marks a crucial step for the Bengaluru-based EV manufacturer towards profitability and further localization of its manufacturing capabilities in India.
The PLI-Auto Scheme is a key government initiative designed to bolster domestic manufacturing, promote advanced automotive technologies, and enhance India's global competitiveness in the auto sector. Ola Electric stated that this incentive acknowledges its commitment to scaling domestic manufacturing, deepening localization efforts, and fostering innovation across the electric mobility value chain. With its Gen 2 and Gen 3 scooters now PLI-certified, Ola Electric is well-positioned to strengthen its financial standing and accelerate its contributions to India's electric vehicle ecosystem.
