Ola Electric PLI-Auto Scheme incentive approval has arrived for the third year in a row, with the company confirming it has secured a sanction of ₹95.81 crore (₹95,80,91,273) from the Ministry of Heavy Industries, Government of India.
Ola Electric has announced that it 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, and authorises the payment to be released through IFCI Limited, 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 is the third consecutive year in which Ola Electric has received an incentive under the PLIAuto Scheme, following the sanction of ₹73.74 Crore for FY 2023-24 announced in March 2025 and ₹366.78 Crore for FY 2024-25 announced in December 2025. The milestone reinforces Ola Electric’s role as a key contributor to India’s advanced automotive manufacturing ecosystem and reflects the company’s strong execution across scale, localisation, and technology-led vertically integrated manufacturing.
Commenting on the development, an Ola Electric spokesperson said, “The sanction of ₹95.81 crore under the PLI-Auto Scheme, for the third consecutive year, is a strong endorsement of Ola Electric’s manufacturing capabilities and our commitment to building world-class EV technology in India. This incentive recognises our sustained efforts in scaling domestic production, deepening localisation, and driving innovation across the electric mobility value chain. We remain committed to supporting the Government of India’s vision of making India a global hub for advanced automotive manufacturing and clean mobility.”
The PLI-Auto Scheme is 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.
