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Ola Electric Becomes First Two-Wheeler EV Maker in India to Receive PLI Incentive
The Statesman Kolkata
|March 07, 2025
Ola Electric has achieved a significant milestone by becoming 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).
According to the stock exchange filing, 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.
"We wish to inform you that, Ola Electric Technologies Private Limited, a wholly-owned subsidiary of Ola Electric Mobility Limited, has received a sanction order dated 5 March, 2025, from the Government of India, Ministry of Heavy Industries," the firm said in the filing.
This story is from the March 07, 2025 edition of The Statesman Kolkata.
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