Ola Electric Secures 5-Year ACC PLI Window, Set to Unlock Up To ₹7,240 Crore Incentives
Ola Electric has secured an extended timeline under the government’s Advanced Chemistry Cell (ACC) Production Linked Incentive (PLI) Scheme, giving its battery cell manufacturing subsidiary a five-year incentive period until calendar year 2031. The electric vehicle maker said Ola Cell Technologies Private Limited (OCT), its wholly owned subsidiary, will now be eligible for incentives linked to…
Ola Electric, an electric vehicle company, has secured a five-year Production Linked Incentive (PLI) window under the government’s Advanced Chemistry Cell (ACC) scheme. This extension will give its battery cell manufacturing subsidiary, Ola Cell Technologies Private Limited (OCT), eligibility for incentives linked to its 20 GWh cell manufacturing capacity.
The revised timeline could unlock cumulative incentives of up to ₹7,240 crore. The Ministry of Heavy Industries (MHI) has approved the new schedule, enabling the company to receive PLI benefits quarterly starting from the next quarter. Ola Electric Chairman and Managing Director Bhavish Aggarwal stated that the revised timeline improves the economics of the company’s cell business by providing a long-term incentive framework, replacing earlier milestone-related uncertainty.
The company is currently operational at 2.5 GWh of cell manufacturing capacity, with an additional 3.5 GWh under development, aiming to reach 6 GWh by the end of the current quarter. Ola Electric is focusing on battery cell capacity expansion, localisation of battery materials, manufacturing efficiency improvements, and recycling capabilities through closed-loop material recovery.
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