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Ola Electric gets Rs 95.81 crore PLI incentive for FY27
Second consecutive payout highlights the EV maker’s focus on localisation and manufacturing
MUMBAI: Ola Electric has received a sanction order from the Ministry of Heavy Industries for Rs 95.81 crore in incentives under the Production Linked Incentive Scheme for Automobile and Auto Components (PLI-Auto Scheme) for FY2026-27.
The sanctioned amount relates to the demand incentive under the scheme and will be disbursed through IFCI, the Central Nodal Agency responsible for payments under the programme.
This marks the second consecutive year in which Ola Electric has secured an incentive under the PLI-Auto Scheme. The company received a sanction of Rs 366.78 crore for FY2024-25, which was announced in December 2025.
The latest incentive comes as Ola Electric continues to expand its domestic manufacturing capabilities, with a focus on increasing production scale, localisation and vertically integrated technology.
The company said the sanction reflects its progress in building an advanced automotive manufacturing ecosystem in India, particularly across electric mobility and related technologies.
The PLI-Auto Scheme is a key government initiative aimed at strengthening domestic automotive manufacturing, promoting advanced automotive technologies and improving India’s competitiveness in the global auto and auto components industry.
For Ola Electric, the latest payout adds another boost to its manufacturing-led strategy as India seeks to deepen local production across the electric vehicle value chain and build greater domestic capabilities in clean mobility.
