Ola Electric, India’s largest electrical automobile firm, has achieved a big milestone by changing into the first two-wheeler automotive electrical automobile (EV) manufacturer in India to receive incentives underneath the Manufacturing Linked Incentive (PLI) scheme for automotive and auto part (PLI-Auto Scheme).
The corporate has been granted a complete incentive of ₹73.74 crore for the Decided Gross sales Worth of FY 2023-24 underneath the scheme, in accordance to a inventory change submitting by the corporate.
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The PLI-Auto Scheme, launched by the Authorities of India, goals to enhance home manufacturing within the automotive sector and promote the adoption of superior, clear, and sustainable mobility options.
Ola Electric’s eligibility for the motivation underscores its management in India’s EV revolution and its dedication to creating a sturdy native manufacturing ecosystem.
“We want to inform you that, Ola Electric Applied sciences Personal Restricted, a wholly-owned subsidiary of Ola Electric Mobility Restricted, has acquired a sanction order dated March 5, 2025, from the Authorities of India, Ministry of Heavy Industries,” the agency mentioned within the submitting.
It went on to state that ₹73.74 crore has been sanctioned. The motivation relies on gross sales for the monetary 12 months 2023-2024.
Launched in September 2021, the PLI-Auto Scheme goals to enhance home manufacturing within the automotive sector and promote the adoption of superior, clear, and sustainable mobility options. With a price range outlay of ₹25,938 crore over 5 years, the scheme is focused in direction of decreasing dependency on imports and positioning the nation as a key participant within the world EV provide chain.
Ola Electric has been on the forefront of India’s EV transformation, with its flagship Ola S1 vary of electrical scooters gaining widespread adoption throughout the nation. The corporate has additionally made vital investments in R&D, battery innovation, and large-scale manufacturing, together with the Ola Futurefactory, one of many world’s largest two-wheeler EV manufacturing amenities.
The corporate is presently the market chief within the electrical two-wheeler phase with a 28 per cent share.
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The PLI-Auto Scheme is a vital step in India’s efforts to improve home manufacturing capabilities, scale back import dependence, and place itself as a key participant within the world EV provide chain.
Ola Electric’s success underneath this scheme units a precedent for different producers wanting to leverage authorities initiatives to drive innovation and sustainable development within the EV sector.
As India continues to push for larger EV adoption and infrastructure growth, Ola Electric’s milestone underneath the PLI-Auto Scheme reinforces its pivotal position in shaping the way forward for mobility within the nation.
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