Article

Ola Electric Mobility has been approved for ₹3.66 billion (~$44 million) in incentives under the Production Linked Incentive program for Automobile and Auto Components (PLI-Auto Program) for FY 2024-25. The funds, disbursed through IFCI, are linked to sales value for battery-electric and hydrogen fuel-cell vehicles across multiple segments including two-wheelers and commercial vehicles. The initiative includes the Champion OEM Incentive Program and the Component Champion Incentive Program, with disbursements set to continue until March 31, 2028, based on determined sales values starting from FY 2023-24.