Ola Electric Bags Rs 95.81 Crore PLI-Auto Incentive for Third Straight Year

Ola Electric has received a sanction order for a Rs 95.81 crore incentive under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components, marking the third consecutive year the company has benefited from the central programme.

The approval, amounting to Rs 95,80,91,273, was issued by the Ministry of Heavy Industries for the financial year 2026-27 under the Demand Incentive category of the PLI-Auto Scheme. The ministry has authorised the disbursal through IFCI Limited, which serves as the designated Central Nodal Agency for the scheme.

This latest sanction follows earlier incentives of Rs 73.74 crore for FY 2023-24 and Rs 366.78 crore for FY 2024-25, reflecting the company's sustained participation in the government's flagship manufacturing push.

In a statement, an Ola Electric spokesperson said the incentive is a strong endorsement of the company's manufacturing capabilities and its commitment to developing world-class EV technology in India. The spokesperson added that the support validates the company's operational roadmap across its supply and production chain, and recognises its efforts in scaling domestic production, deepening localisation, and driving innovation across the electric mobility value chain.

The PLI-Auto Scheme is a key government initiative aimed at strengthening domestic manufacturing, promoting advanced automotive technologies, and enhancing the global competitiveness of India's auto and auto components sector.