Ola Electric Secures Rs 366.78 Cr PLI-Auto Incentive for FY25

• Ola Electric received a sanction order for Rs 366.78 crore under the PLI-Auto Scheme from the Ministry of Heavy Industries.
• The incentive is for the demand incentive for determined sales value for FY 2024-25.
• Funds will be disbursed through IFCI Limited, the designated financial institution for the scheme.
• This reinforces Ola Electric's role in India's advanced automotive manufacturing and its commitment to localization and technology.
• The company views this as an endorsement of its manufacturing capabilities and efforts to build world-class EV technology in India.

Why It Matters: Ola Electric's Rs 366.78 Cr PLI-Auto incentive highlights its contribution to India's EV manufacturing.