Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights
Ola Electric Receives Rs 366.78 Crore Incentive Under PLI-Auto Scheme for FY25
Dec 26, 2025
Ola Electric has received a sanction for Rs 366.78 crore from the Ministry of Heavy Industries under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components for FY 2024–25, underscoring its scale-driven and technology-led EV manufacturing capabilities.
Ola Electric announced that the Ministry of Heavy Industries has issued a sanction order approving incentives worth Rs 366.78 crore under the PLI-Auto Scheme for claims related to the financial year 2024–25.
The sanctioned amount falls under the Demand Incentive component linked to the company’s determined sales value for the year. The order authorises the release of the incentive through IFCI Ltd., the designated financial institution responsible for disbursement under the scheme. The approval has been granted in line with the applicable provisions and conditions of the PLI-Auto Scheme, as amended from time to time.
According to the company, the incentive reinforces Ola Electric’s position as a significant contributor to India’s advanced automotive manufacturing ecosystem. It reflects the company’s execution capabilities across large-scale production, deep localisation, and technology-driven, vertically integrated manufacturing.
Commenting on the development, an Ola Electric spokesperson said the incentive is a strong validation of the company’s manufacturing strength and long-term commitment to building world-class electric vehicle technology in India. The spokesperson added that the sanction recognises Ola Electric’s continued focus on scaling domestic manufacturing, increasing localisation, and driving innovation across the electric mobility value chain, while aligning with the Government of India’s vision of positioning the country as a global hub for advanced automotive manufacturing and clean mobility.
The PLI-Auto Scheme is a flagship Government of India initiative aimed at boosting domestic manufacturing, promoting advanced automotive technologies, and enhancing India’s global competitiveness in the automobile and auto components sector.