Ola Electric’s PLI Milestone: ₹73.7 Crore Incentive to Drive EV Innovation

Written By: Mobin

Ola Electric received incentives of ₹73.7 crores under the PLI-Auto scheme, making it India's first 2W EV company, further increasing Ola's market value.

Incentives

In the same market, Ola Electric reigns number 1 in the electric two-wheeler segment with 28% market share in February 2025.

Market

The PLI-Auto scheme aims to boost domestic manufacturing and encourage clean energy solutions.

Scheme

Recently Ola Electric has invested heavily in R&D, battery innovation and Ola Futurefactory.

Investment

Five products of Ola Electric are certified under the PLI scheme, providing a good product while meeting the 50% localization criteria.

Products

Talking about batteries, Ola Electric has been allocated 20GWh capacity under the ACC Battery PLI scheme.

Battery

By December 2024, Ola Electric's loss has increased to ₹564 crore, which is more than last year. But Ola says that it will soon turn it into profit.

Loss

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