Leading electric vehicle manufacturer Ola Electric has received a sanction order from the Ministry of Heavy Industries for the release of ₹95.81 crore in incentives under the Production Linked Incentive Scheme for Automobile and Auto Components (PLI-Auto Scheme).
The sanction pertains to the demand incentive under the PLI-Auto Scheme for FY27 and authorises the payment through IFCI Ltd, the Central Nodal Agency designated for disbursement under the scheme.
Incentive supports localisation
This is the third consecutive year in which Ola Electric has received an incentive under the PLI-Auto Scheme, following sanctions of ₹74 crore for FY24 and ₹367 crore for FY25, announced in December 2025.
The latest incentive reinforces Ola Electric’s focus on scaling domestic production, increasing localisation and developing technology-led, vertically integrated manufacturing capabilities for electric mobility.
Management comment
An Ola Electric spokesperson said the sanction for the third consecutive year was an endorsement of the company’s manufacturing capabilities and its commitment to developing EV technology in India.
“The sanction of ₹95.81 crore under the PLI-Auto Scheme, for the third consecutive year, is a strong endorsement of Ola Electric’s manufacturing capabilities and our commitment to building world-class EV technology in India.
Government targets advanced manufacturing
“This incentive recognises our sustained efforts in scaling domestic production, deepening localisation, and driving innovation across the electric mobility value chain,” the spokesperson said.
Ola Electric said it remains committed to supporting the Centre’s vision of making India a global hub for advanced automotive manufacturing and clean mobility.
Enhances global competition
The PLI-Auto Scheme is aimed at strengthening domestic manufacturing, encouraging advanced automotive technologies and enhancing India’s global competitiveness in the automobile and auto-components sector.
The continued incentives come as Ola Electric expands its manufacturing and technology capabilities, with a focus on building a stronger domestic electric mobility ecosystem.