Ola Electric Mobility Limited has received a sanction order from the Ministry of Heavy Industries, Government of India, for the release of incentives amounting to ₹95.81 Crore (₹95,80,91,273) 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 FY 2026-27. The payment will be released through IFCI Limited, which serves as the Central Nodal Agency designated for disbursement under the scheme. The incentive has been sanctioned in accordance with the applicable terms and conditions of the PLI-Auto Scheme, as amended from time to time.
This represents the third consecutive year in which Ola Electric has received an incentive under the PLI-Auto Scheme. Previous incentives include ₹73.74 Crore for FY 2023-24 (announced in March 2025) and ₹366.78 Crore for FY 2024-25 (announced in December 2025).
According to an Ola Electric spokesperson, this incentive recognizes the company's sustained efforts in scaling domestic production, deepening localisation, and driving innovation across the electric mobility value chain. The company stated this reinforces its role as a key contributor to India's advanced automotive manufacturing ecosystem and reflects strong execution across scale, localisation, and technology-led vertically integrated manufacturing.
The PLI-Auto Scheme is described as a flagship initiative of the Government of India aimed at strengthening domestic manufacturing, encouraging advanced automotive technologies, and enhancing India's global competitiveness in the auto and auto components sector.