Ola Electric has announced that it has received official approval from the Ministry of Heavy Industries, Government of India, for the disbursement of ₹366.78 crores in incentives under the Production Linked Incentive (PLI) Scheme for Automobiles and Auto Components for the financial year 2024–25.
The sanction relates to the demand incentive based on the determined sales value for FY25 and authorizes the release of funds through IFCI Limited, the designated financial institution responsible for administering payments under the scheme. The incentive has been granted in accordance with the applicable terms and conditions of the PLI-Auto Scheme, as revised from time to time.
This milestone underscores the position of Ola Electric as a leading force in India’s advanced automotive manufacturing ecosystem, highlighting the company’s strong capabilities in scale, localisation, and technology-driven, vertically integrated production.
An Ola Electric spokesperson said, “The sanction of ₹366.78 crores 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. This incentive recognises our sustained efforts in scaling domestic production, deepening localisation, and driving innovation across the electric mobility value chain. We remain committed to supporting the Government of India’s vision of making India a global hub for advanced automotive manufacturing and clean mobility.”
The PLI-Auto Scheme is a flagship initiative of the Government of India aimed at strengthening domestic manufacturing, encouraging advanced automotive technologies, and enhancing India’s global competitiveness in the auto and auto components sector.
