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The PLI-Auto scheme represents a crucial step in India’s efforts to enhance domestic manufacturing capabilities.
Ola Electric, India’s leading electric vehicle company, has become the first two-wheeler EV manufacturer in the country to receive incentives under the government’s Production-Linked Incentive (PLI) scheme. The company received Rs 73.74 crore for its sales performance in the financial year 2023-2024.
Ola Electric was granted the incentive based on its sales figures from the fiscal year 2023-2024. The company disclosed this information in a stock exchange filing, confirming the receipt of a sanction order from the Ministry of Heavy Industries, dated March 5, 2025.
PLI-Auto scheme
The PLI-Auto scheme, introduced in September 2021, seeks to encourage domestic manufacturing in the automotive industry. The programme also promotes the adoption of advanced and environmentally friendly mobility solutions. The scheme has a budget of Rs 25,938 crore, spread over five years.
The PLI-Auto scheme represents a crucial step in India’s efforts to enhance domestic manufacturing capabilities.
- Published On Mar 6, 2025 at 01:27 PM IST
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