Ola Electric Secures $366.78 Crore PLI-Auto Incentive for FY25

Ola Electric Mobility Limited has received a sanction order from the Ministry of Heavy Industries, Government of India, for the release of incentives amounting to ₹366.78 Crore under the Production Linked Incentive Scheme for Automobile and Auto Components (PLI-Auto Scheme) for claims pertaining to FY 2024-25. This sanction pertains to the Demand Incentive for the Determined Sales Value for FY 2024-25, and authorises a payment of ₹366.78 crore to be released through IFCI Limited, the designated financial institution for disbursement under the scheme. This milestone reinforces Ola Electric’s role as a key contributor to India’s advanced automotive manufacturing ecosystem and reflects the company’s strong execution across scale, localisation, and technology-led vertically integrated manufacturing.