Ola Electric Receives ₹367 Crore PLI-Auto Incentive for FY25
Filing Summary
Ola Electric Mobility Ltd has announced the receipt of a sanction order from the Ministry of Heavy Industries, Government of India, for incentives totaling ₹367 Crore under the Production Linked Incentive Scheme for Automobile and Auto Components for FY 2024-25. The incentive will be disbursed through IFCI Limited. This development is part of the PLI-Auto Scheme aimed at enhancing domestic manufacturing and advanced automotive technologies. The press release was issued on December 25, 2025, and is available on Ola Electric’s website.
Ola Electric Mobility Ltd has informed the exchange about a press release dated December 25, 2025, regarding the receipt of a sanction order from the Ministry of Heavy Industries, Government of India. The order authorizes the release of incentives amounting to ₹367 Crore under the Production Linked Incentive Scheme for Automobile and Auto Components (PLI-Auto Scheme) for the fiscal year 2024-25.
The incentive pertains to the Demand Incentive for the Determined Sales Value for FY 2024-25. The payment of ₹367 Crore will be disbursed through IFCI Limited, the designated financial institution for the scheme. The sanction is in accordance with the applicable terms and conditions of the PLI-Auto Scheme, as amended over time.
The PLI-Auto Scheme is a flagship initiative by the Government of India designed to strengthen domestic manufacturing and encourage advanced automotive technologies. It aims to enhance India’s global competitiveness in the auto and auto components sector.
The press release highlights that the incentive recognizes Ola Electric’s efforts in scaling domestic production, deepening localization, and driving innovation across the electric mobility value chain. The company remains committed to supporting the Government of India’s vision of making India a global hub for advanced automotive manufacturing and clean mobility.
About Ola Electric Mobility Ltd: Ola Electric is a leading electric vehicle manufacturer in India, specializing in the vertical integration of technology and manufacturing for EVs and their components, including battery cells. The company operates the Ola Futurefactory in Tamil Nadu, which plays a significant role in establishing a robust EV hub in India. Ola Electric also maintains a direct-to-customer distribution network across India and a strong online presence.