Ola Electric Secures ₹95.81 Crore Under Centre's PLI Auto Scheme

29 Aug 2026, 7:23 pm · 14d ago · 1 min read · Inc42

Bhavish Aggarwal-led EV maker Ola Electric has secured a ₹95.81 crore incentive under the Ministry of Heavy Industries' Production Linked Incentive scheme for automobiles. This marks the company's third consecutive PLI disbursement, following sanctions of ₹73.74 crore for FY24 and ₹366.78 crore for FY25. The scheme offers financial incentives of up to 18% on sales to bolster domestic manufacturing. Additionally, Ola Electric is eligible for up to ₹7,240 crore under the Advanced Chemistry Cell PLI scheme over five years, even as its two-wheeler registrations fell 20% to 13,085 units in July.