Ola Electric has received a sanction order from the Ministry of Heavy Industries, Government of India, approving incentives of ₹366.78 crore under the Production Linked Incentive Scheme for Automobile and Auto Components (PLI-Auto Scheme) for the financial year 2024–25. The approval covers the demand incentive linked to determined sales value for FY25 and authorises the release of funds through IFCI Limited, the designated disbursing agency under the scheme.
The sanction has been issued in line with the applicable guidelines and conditions of the PLI-Auto Scheme. The incentive reflects Ola Electric’s progress in scaling manufacturing operations, increasing domestic value addition, and strengthening vertically integrated EV production in India.
An Ola Electric spokesperson stated that the incentive recognises the company’s continued investment in local manufacturing, advanced EV technologies, and innovation across the electric mobility ecosystem. The company reaffirmed its commitment to supporting the Government of India’s goal of positioning the country as a global centre for automotive manufacturing and clean mobility solutions.
The PLI-Auto Scheme is a key government initiative designed to promote domestic manufacturing, accelerate adoption of advanced automotive technologies, and enhance India’s competitiveness in the global automotive sector. Ola Electric Mobility Limited is among India’s leading electric vehicle manufacturers, with a strong focus on vertically integrated design and production of EVs and key components, including battery cells.
Its Futurefactory in Tamil Nadu serves as a major production hub, supported by the Battery Innovation Centre in Bengaluru. Ola Electric’s research and development teams operate across India, the UK, and the US. The company also operates one of India’s largest company-owned EV retail networks through its direct-to-customer model.
