Ola Electric Mobility has received a sanction order from the Ministry of Heavy Industries, Government of India, for the release of incentives amounting to Rs 95.81 crore (Rs 95,80,91,273) under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components (PLI-Auto Scheme).
The sanction pertains to the Demand Incentive under the PLI-Auto Scheme for FY 2026-27, and authorises the payment to be released through IFCI, the Central Nodal Agency designated for disbursement under the scheme. The incentive has been sanctioned in accordance with the applicable terms and conditions of the PLI-Auto Scheme, as amended from time to time.
This is the third consecutive year in which Ola Electric has received an incentive under the PLI-Auto Scheme, following the sanction of Rs 73.74 crore for FY 2023-24 announced in March 2025 and Rs 366.78 crore for FY 2024-25 announced in December 2025. The milestone reinforces Ola Electric's role as a key contributor to India's advanced automotive manufacturing ecosystem and reflects the company's strong execution across scale, localisation, and technology-led vertically integrated manufacturing.
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.
