Ola Electric Secures ₹367 Crore PLI-Auto Incentive for FY25

• Ola Electric Mobility Limited received a sanction order for ₹366.78 crore under the PLI-Auto scheme from the Ministry of Heavy Industries for FY25.
• The incentive relates to demand incentives linked to determined sales value and will be disbursed via IFCI Limited.
• Ola Electric views this as an endorsement of its manufacturing capabilities, localization, and vertically integrated production.
• The company stated it aligns with the government's vision to make India a global hub for advanced automotive manufacturing and clean mobility.
• The PLI-Auto scheme aims to boost domestic manufacturing and encourage advanced automotive technologies in India.

Why It Matters: Ola Electric's ₹367 crore PLI-Auto incentive highlights its strong position in India's EV ecosystem.