Ola Electric files PLI claim of Rs 400 crore, boosting financial prospects

Ola Electric has filed a claim of around Rs 400 crore incentive under the government's production-linked incentive (PLI) scheme, reinforcing its compliance with rigorous localisation and regulatory requirements, according to sources.

As per industry sources, Ola has filed the claim with eligible sales of about Rs 3,000 crore for FY25, translating into an expected incentive of nearly Rs 400 crore.

The incentive, calculated at a rate of 13 to 14 per cent, is expected to significantly strengthen the company's liquidity position and deliver a positive impact on its financial performance in the coming quarters, the sources close to the development said.

 

Notably, Ola was the only two-wheeler Original Equipment Manufacturer (OEM) to receive the PLI incentive last year, marking a significant milestone for the company and the industry.

Continuing this momentum, Ola has emerged as the top achiever in PLI-eligible sales in the two-wheeler category for two consecutive years, underscoring its leadership in India's EV transformation.

Ola Electric recently also announced that it has received certification of compliance with PLI eligibility assessment requirements for its Gen 3 scooter portfolio.

The certification covers all its Gen 3 scooters in the S1 line-up.

The Gen 3 portfolio represents the majority of the company's current sales, and as a result, this certification is set to significantly enhance Ola Electric's profitability from Q2 FY26 onwards.