Ola Electric has received a sanction order from the Ministry of Heavy Industries, Government of India, for incentives of ₹366.78 Crore under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components. This pertains to claims for FY25. The incentive reinforces Ola Electric’s role in India’s advanced automotive manufacturing and localization.
PLI-Auto Scheme Incentive Secured
Ola Electric announced on December 25, 2025, it has received a sanction order for incentives amounting to ₹366.78 Crore under the Production Linked Incentive Scheme for Automobile and Auto Components (PLI-Auto Scheme). This incentive is sanctioned by the Ministry of Heavy Industries, Government of India and is related to claims pertaining to FY2024-25.
Details of the Incentive
The sanction relates to the Demand Incentive for the Determined Sales Value for FY 2024-25. It authorizes a payment of ₹366.78 crore to be released through IFCI Limited. The incentive adheres to the applicable terms and conditions of the PLI-Auto Scheme, as amended.
Impact and Company Statement
An Ola Electric spokesperson stated, “The sanction of ₹366.78 crore under the PLI-Auto Scheme is a strong endorsement of Ola Electric’s manufacturing capabilities and our commitment to building world-class EV technology in India… We remain committed to supporting the Government of India’s vision of making India a global hub for advanced automotive manufacturing and clean mobility.”
About the PLI-Auto Scheme
The PLI-Auto Scheme aims to strengthen domestic manufacturing, encourage advanced automotive technologies, and enhance India’s global competitiveness in the auto and auto components sector.
Ola Electric’s Operations
Ola Electric Mobility Limited specializes in the vertical integration of technology and manufacturing for EVs, including battery cells. Its Futurefactory in Tamil Nadu plays a role in establishing a robust EV hub in India, supported by Ola’s Bengaluru-based Battery Innovation Centre (BIC).
Source: BSE
