Ola Electric Secures ₹95.81 Crore PLI-Auto Incentive For Third Consecutive Year

NEW DELHI: Electric vehicle manufacturer Ola Electric has secured a sanction order for an incentive amounting to ₹95,80,91,273 under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components.

The allocation, pertaining to the Demand Incentive under the PLI-Auto Scheme for the financial year 2026-27, was approved by the Ministry of Heavy Industries, Government of India.

Under the terms of the sanction order, the Ministry authorised the payment for disbursement through IFCI Limited, which acts as the designated Central Nodal Agency for the scheme. The approval was granted in accordance with the applicable terms and conditions of the PLI-Auto Scheme.

This development marks the third consecutive year that Ola Electric has received incentives under the central programme. The company previously secured a sanction of ₹73.74 crore for the financial year 2023-24, announced in March 2025, followed by ₹366.78 crore for the financial year 2024-25, announced in December 2025.

Commenting on the milestone, an Ola Electric spokesperson stated that the financial support validates the company's operational roadmap across its supply and production chain. The spokesperson added that the incentive recognises the firm's sustained efforts in scaling domestic production, deepening localisation, and driving innovation across the electric mobility value chain.

The company further noted that the allocation highlights its role in India's advanced automotive manufacturing ecosystem and reflects its execution across manufacturing scale, localisation, and vertically integrated technology. Ola Electric stated that it remains committed to supporting the Government of India's vision of making the country a global hub for advanced automotive manufacturing and clean mobility.

The PLI-Auto Scheme is a flagship initiative of the Government of India designed to strengthen domestic manufacturing, encourage the adoption of advanced automotive technologies, and enhance the global competitiveness of the country's auto and auto components sector.

"The continuous disbursement of incentives under the PLI-Auto Scheme highlights the growing importance of local manufacturing and supply chain integration in India's electric vehicle sector. For growing companies in the advanced manufacturing space, aligning operational roadmaps with government policy frameworks is critical to achieving manufacturing scale and long-term viability. This development underscores how policy backing can support capital-intensive sectors like clean mobility as they scale domestic production capabilities." — Dr. Shishir Gupta, Founder & CEO, StartupLanes