EV maker receives fresh government support as it expands local manufacturing and technology
Ola Electric has received a Rs 95.81 crore incentive under the government’s Production Linked Incentive (PLI) scheme for automobiles and auto components for FY 2026-27, marking the company’s third consecutive year of receiving support under the scheme.
The sanction order was issued by the Ministry of Heavy Industries, with the incentive to be disbursed through IFCI Ltd, the designated Central Nodal Agency under the PLI-Auto scheme. The incentive relates to the demand incentive component for FY27 and has been approved under the scheme’s applicable terms and conditions.
Ola Electric said the latest approval reinforces its focus on scaling domestic manufacturing, increasing localisation and developing electric vehicle technology in India. The company has previously received Rs 366.78 crore for FY 2024-25 and Rs 73.74 crore for FY 2023-24, taking its total sanctioned PLI incentives to around Rs 536 crore.
The PLI-Auto scheme is aimed at strengthening India’s domestic automotive manufacturing ecosystem, encouraging advanced automotive technologies and improving the country’s global competitiveness in the auto and auto-components sector.
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