Ola Electric has received a sanction order from the Ministry of Heavy Industries, Government of India, for incentives of ₹95.81 crore under the Production Linked Incentive Scheme for Automobile and Auto Components (PLI-Auto). The sanctioned amount of ₹95,80,91,273 relates to the Demand Incentive component of the PLI-Auto Scheme for FY2026-27. The payment will be released through IFCI Limited, the Central Nodal Agency appointed for disbursement under the scheme.
The incentive has been approved in line with the applicable terms and conditions of the PLI-Auto Scheme, including amendments made from time to time. This is the third consecutive year that Ola Electric has received an incentive under the government’s PLI-Auto programme. The company had earlier received ₹73.74 crore for FY2023-24, sanctioned in March 2025, followed by ₹366.78 crore for FY2024-25, sanctioned in December 2025.
The latest approval reflects Ola Electric’s continued focus on domestic manufacturing, localisation and development of electric vehicle technologies. The company has built an integrated manufacturing and technology ecosystem covering electric vehicles and key components. An Ola Electric spokesperson said the latest incentive recognises the company’s manufacturing capabilities and continued investment in electric vehicle technology in India.
“The sanction of ₹95.81 crore under the PLI-Auto Scheme, for the third consecutive year, is a strong endorsement of Ola Electric’s manufacturing capabilities and our commitment to building world-class EV technology in India,” the spokesperson said. The company said it will continue to increase domestic production, deepen localisation and develop technologies across the electric mobility value chain. It also aims to support India’s efforts to strengthen its position in advanced automotive manufacturing and clean mobility.
The PLI-Auto Scheme is a major government programme aimed at strengthening domestic manufacturing in the automobile and auto-component sectors. The scheme is designed to encourage investments in advanced automotive technologies and improve India’s competitiveness in the global automotive industry.
Ola Electric Mobility Limited is an electric vehicle manufacturer focused on vertically integrated technology and manufacturing. Its operations include electric vehicles and components, including battery cells. The company’s Futurefactory in Tamil Nadu manufactures electric vehicles and key components and forms a major part of its manufacturing ecosystem. Its Battery Innovation Centre in Bengaluru focuses on cell and battery technology.
Ola Electric also conducts research and development activities in India, the United Kingdom and the United States. Its product development efforts cover electric vehicles and critical components. The company has a direct-to-customer distribution network with thousands of stores across India, supported by its online sales platform and company-owned automotive experience centres.
