Ola Electric PLI-Auto Incentive Reaches INR 958.1 Million

Ola Electric Receives INR 958.1 Million Under PLI-Auto Scheme

On August 28, Ola Electric announced that it had received a sanction order from the Ministry of Heavy Industries for INR 958.1 million, or INR 958,091,273, under the Production Linked Incentive Scheme for Automobile and Auto Components, known as PLI-Auto. The sanctioned amount represents the demand incentive for FY 2026-27, ending in March, and will be disbursed through IFCI Limited, the central nodal agency responsible for administering the scheme. The latest approval provides another incentive tied to Ola Electric’s eligible automotive and component manufacturing activities under the government’s production-linked framework.

Third Consecutive PLI-Auto Incentive

The latest sanction marks Ola Electric’s third consecutive incentive under the PLI-Auto Scheme. The company previously received INR 737.4 million for FY 2023-24 and INR 3.67 billion for FY 2024-25. Including the newest sanction, Ola Electric’s cumulative incentives under the scheme reach ₹536.33 crore. The successive approvals highlight the company’s continued participation in the government’s production-linked incentive framework for automobiles and auto components. The latest incentive therefore adds to the financial support already sanctioned to the company across multiple fiscal years under the PLI-Auto program.

Manufacturing Operations in Tamil Nadu

Ola Electric manufactures electric vehicles and components at its Futurefactory in Tamil Nadu, including battery cells. The company’s manufacturing footprint covers both electric vehicles and key components, with battery-cell production forming part of its broader effort to develop an integrated electric-mobility manufacturing base. The PLI-Auto incentive is therefore associated with eligible demand incentives under the government scheme and comes as Ola Electric continues its electric-vehicle and component manufacturing activities. The latest sanction further adds to the incentives the company has received under the program across FY 2023-24, FY 2024-25, and FY 2026-27.

Frequently Asked Questions

How much PLI-Auto incentive has Ola Electric received for FY 2026-27?
Ola Electric has received a sanction of INR 958.1 million for FY 2026-27 under the Production Linked Incentive Scheme for Automobile and Auto Components, with the amount to be disbursed through IFCI Limited, the scheme’s central nodal agency. This is the company’s third consecutive incentive under PLI-Auto. It previously received INR 737.4 million for FY 2023-24 and INR 3.67 billion for FY 2024-25. With the latest sanction included, its total incentives under the scheme amount to ₹536.33 crore, supporting its eligible electric-vehicle and component manufacturing activities.