Ola Electric Receives ₹366.78 Crore PLI-Auto Incentive from Ministry of Heavy Industries

Ola Electric received a sanction order from the Ministry of Heavy Industries, Government of India, on December 25, 2025, for the release of ₹366.78 crore under the Production Linked Incentive Scheme for Automobile and Auto Components (PLI-Auto Scheme) for claims pertaining to FY 2024-25.

The sanction covers the Demand Incentive for the Determined Sales Value for FY 2024-25. The payment will be released through IFCI Limited, the designated financial institution for disbursement under the scheme. The incentive has been sanctioned according to the applicable terms and conditions of the PLI-Auto Scheme, as amended from time to time.

Commenting on the development, an Ola Electric spokesperson said, "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. 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 was launched by the Government of India with an approved outlay to incentivise domestic manufacturing in the automobile and auto components sector. The scheme provides financial incentives to companies based on incremental sales of advanced automotive technology products manufactured in India.

Eligible manufacturers must meet specified criteria for domestic value addition, investment commitments, and sales thresholds. The scheme aims to reduce import dependence, attract fresh investments in the sector, and position India as a competitive manufacturing destination for automobiles and components globally.

Ola Electric Mobility Limited is an electric vehicle manufacturer that specialises in vertical integration of technology and manufacturing for EVs and their components, including battery cells. The Ola Futurefactory in Tamil Nadu produces EVs and critical components.

The company is supported by its Bengaluru-based Battery Innovation Centre (BIC) for cell and battery technology advancement. Ola's R&D operations span India, the UK, and the US. The company operates a direct-to-customer distribution network of thousands of stores across India and maintains an online presence.