Ola Electric becomes first two-wheeler EV manufacturer to receive PLI incentives worth ₹73.74 crore.

Ola Electric, India's largest 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 for the automotive and auto component sectors (PLI-Auto Scheme).

The company has been granted an incentive of ₹73.74 crore for the determined sales value of FY 2023-24, according to a stock exchange filing. The incentive was sanctioned by the Ministry of Heavy Industries through an order dated March 5, 2025.

Launched in September 2021, the PLI-Auto Scheme aims to boost domestic manufacturing in the automotive sector and promote the adoption of advanced, clean, and sustainable mobility solutions. The scheme has a budget outlay of ₹25,938 crore over five years, targeting reduced import dependency and strengthening India’s position in the global EV supply chain.

Ola Electric has been at the forefront of India’s EV transformation, with its flagship Ola S1 range of electric scooters gaining widespread adoption. The company has made significant investments in R&D, battery innovation, and large-scale manufacturing, including the Ola Futurefactory, one of the world's largest two-wheeler EV production facilities.

The success of Ola Electric under the PLI-Auto Scheme highlights its leadership in the EV sector and sets a benchmark for other manufacturers looking to leverage government initiatives to drive innovation and sustainable growth. As India continues to push for greater EV adoption, Ola Electric’s milestone reinforces its pivotal role in shaping the future of mobility in the country.

HBL