Ola Electric Secures ₹95.81 Crore PLI-Auto Incentive for FY26-27
Ola Electric has secured ₹95.81 Crore under the PLI-Auto Scheme for FY 2026-27. This is the third consecutive year the company has received such an incentive, highlighting its manufacturing capabilities and contribution to India's EV ecosystem. The funds are for Demand Incentives under the scheme.
The incentive amount, while substantial, is part of a larger scheme and directly supports ongoing operations rather than representing a transformative new business venture. It reinforces existing strengths.
The company has received a significant financial incentive from the government, which is a positive development for its operations and manufacturing capabilities.
Ola Electric Mobility Limited has announced that it has received a sanction order from the Ministry of Heavy Industries, Government of India, for 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 for FY 2026-27 and will be disbursed through IFCI Limited. This marks the third consecutive year Ola Electric has received an incentive under the PLI-Auto Scheme, following ₹73.74 Crore for FY 2023-24 (announced March 2025) and ₹366.78 Crore for FY 2024-25 (announced December 2025).
An Ola Electric spokesperson stated that the incentive is a strong endorsement of the company's manufacturing capabilities and commitment to building world-class EV technology in India, reinforcing its role in scaling domestic production, localisation, and innovation. The PLI-Auto Scheme is a key government initiative to boost domestic manufacturing and advanced automotive technologies.
A plain-language summary of a public exchange filing by Ola Electric Mobility Limited. Read the original for the full detail.