India’s largest electric vehicle (EV) company has become the first two-wheeler EV manufacturer of India to receive incentives under the production-linked incentive scheme (PLI) for Ola Electric, Auto and Auto components. In the information given to the stock market, the company said that under this scheme it has been given a total of Rs 100 crore for the fixed selling price for FY 2023-24. A encouragement of Rs 73.74 crore has been given. The purpose of the PLI-vehicle scheme launched by the Government of India is to promote domestic manufacturing in the automobile sector and promote advanced, clean and sustainable transport solutions.
Local manufacturing ecosystem will develop
Eligibility for PLI of Ola Electric reflects India’s commitment to India’s leadership and a strong local manufacturing ecosystem in the EV revolution. In the information given to the stock exchange, the company said, “We want to inform you that Ola Electric Technologies Private Limited, a subsidiary of Ola Electric Mobility Limited, has received an approved order from the Ministry of Heavy Industries, Government of India, on March 5, 2025.”
Budget of Rs 25,938 crore in five years
In five years, Rs. With a budget outlay of Rs 25,938 crore, the scheme aims to reduce dependence on imports and establish the country as a global EV supply chain. The government has launched the PLI scheme to promote local manufacturing. Industries have benefited greatly from this scheme.
