Ola Electric Mobility has become the first two-wheeler automotive electric vehicle (EV) manufacturer in India to receive incentives under the Production Linked Incentive (PLI) Scheme for Automotive and Auto Component (PLI-Auto Scheme). The company has been granted a total incentive of Rs 73.74 crore for the Determined Sales Value of FY 2023-24 under the scheme.
The PLI-Auto Scheme, launched by the Government of India, aims to boost domestic manufacturing in the automotive sector and promote the adoption of advanced, clean, and sustainable mobility solutions.
Ola Electric's eligibility for the incentive underscores its leadership in India's EV revolution and its commitment to developing a robust local manufacturing ecosystem.
Ola Electric Mobility is an electric vehicle company that primarily manufactures electric vehicles and certain core components for electric vehicles such as battery packs, motors, and vehicle frames at the Ola Future factory.
