Ola Electric Secures ₹7,240 Cr PLI Lifeline Through 2031

Electric vehicle manufacturer Ola Electric has secured a critical two-year extension for its advanced chemistry cell (ACC) production-linked incentive (PLI) scheme from the Ministry of Heavy Industries. The adjustment extends the company's incentive window through 2031, providing access to up to ₹7,240 crore in cumulative support for its 20 GWh capacity allocation. Bolstered by accelerated manufacturing progress—projecting 6 GWh of operational capacity by the end of the quarter—Ola Electric anticipates its first quarterly disbursements next quarter, a development that successfully improves near-term financial projections and Q1 FY27 performance.

News by Rahul Yelligetti.