Ola Electric share price jumps 5% after ₹367-crore PLI incentive approval

Ola Electric share price today: Shares of Ola Electric Mobility, an electric vehicle company, were buzzing in trade on Friday, December 26, 2025, with the stock rising up to 5.40 per cent to hit an intraday high of ₹37.28 per share.

 

Around 10:00 AM, Ola Electric shares continued to trade higher, up 2.97 per cent at ₹36.42 per share. By comparison, BSE Sensex was trading 0.24 per cent lower at 85,206.77 levels.

Why did Ola Electric share price rise today?

 

Ola Electric shares rose on Thursday after the company received a sanction order from the Ministry of Heavy Industries for the release of incentives worth ₹366.78 crore under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components for FY 2024-25.

 

 

The sanction relates to the demand incentive on determined sales value for FY 2024-25 and authorises the disbursement of ₹366.78 crore through IFCI Ltd, the designated financial institution for payments under the PLI-Auto scheme. The incentive has been approved in line with the applicable terms and conditions of the scheme, as amended from time to time.  ALSO READ | IEX slips 4% on huge volumes, stock nears 52-week low; here's why 

“The sanction of ₹366.78 crore under the PLI-Auto Scheme is a strong endorsement of Ola Electric’s manufacturing capabilities and our commitment to building world-class EV technology in India. This incentive recognises our sustained efforts in scaling domestic production, deepening localisation, and driving innovation across the electric mobility value chain. We remain committed to supporting the Government of India’s vision of making India a global hub for advanced automotive manufacturing and clean mobility,” Ola Electric spokesperson said.

 

The approval backs Ola Electric’s growing role in India’s advanced automotive manufacturing ecosystem, reflecting its execution strength across scale, localisation and technology-led, vertically integrated manufacturing.

 

The PLI-Auto Scheme is a flagship government initiative aimed at boosting domestic manufacturing, promoting advanced automotive technologies and improving India’s global competitiveness in the automobile and auto components sector.  ALSO READ | Castrol India up 4% after Motion JVCo, Stonepeak, & CPPIB makes open offer 

Ola Electric Mobility is one of India’s leading electric vehicle (EV) manufacturers, with a strong focus on vertically integrated technology and manufacturing. The company designs and produces EVs and key components, including battery cells, in-house. Its Ola Futurefactory in Tamil Nadu manufactures EVs and critical components and is emerging as a key hub for India’s EV ecosystem. This is supported by the Bengaluru-based Battery Innovation Centre (BIC), which focuses on advancing cell and battery technologies. 

 

Ola Electric’s research and development activities span India, the UK and the US, and are centred on developing innovative EV products and core components. The company follows a direct-to-customer distribution model, supported by a strong online presence and thousands of company-owned stores across India, making it one of the largest networks of automotive experience centres in the country.