• Ola Electric sanctioned Rs 366.78 crore under the PLI-Auto Scheme for FY25.
• Incentive reflects the company’s focus on scale, localization, and EV technology innovation.
• Supports India’s vision to become a global hub for advanced automotive manufacturing.

Ola Electric has received a sanction order from the Ministry of Heavy Industries approving Rs 366.78 crore in incentives under the government’s Production-Linked Incentive (PLI) scheme for FY24-25. The payment will be disbursed through IFCI Limited, the designated financial institution under the scheme.

The incentive recognizes Ola Electric’s sustained efforts in scaling domestic EV production, deepening localization of components, and driving technology-led manufacturing across its vertically integrated operations.

“This sanction under the PLI-Auto Scheme validates our manufacturing capabilities and our commitment to building world-class electric vehicle technology in India,” an Ola Electric spokesperson said. The company emphasized that the incentive underscores its focus on innovation, efficiency, and high-quality production standards.

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Ola Electric also highlighted its alignment with the government’s vision to make India a global hub for advanced automotive manufacturing and clean mobility. The PLI-Auto Scheme is a flagship initiative aimed at strengthening domestic production, promoting advanced automotive technologies, and enhancing India’s competitiveness in the global auto sector.

By securing this incentive, Ola Electric reinforces its role as a key contributor to India’s EV ecosystem while continuing to advance clean mobility solutions and drive innovation across the electric vehicle value chain.