Ola Electric gets revised ACC PLI timeline, eyes Rs 7,240 crore incentive payout through 2031

Ola Electric Mobility Ltd on Wednesday said the Ministry of Heavy Industries (MHI) has approved revised timelines under the Advanced Chemistry Cell (ACC) Production Linked Incentive (PLI) scheme for its wholly owned subsidiary, Ola Cell Technologies Pvt Ltd (OCT).

The company said the revised approval secures a full five-year PLI window through calendar year 2031 for Ola Electric’s 20 GWh ACC allocation and could unlock cumulative incentives of up to Rs 7,240 crore.

According to Ola Electric, the incentives will be disbursed quarterly, beginning next quarter, creating a recurring incentive stream as the company scales up its cell manufacturing operations.


Ola Electric currently has 2.5 GWh of installed cell manufacturing capacity, while another 3.5 GWh is under installation. The company expects to reach 6 GWh of installed capacity by the end of the current quarter.

This would allow Ola Electric to achieve its initial installed-capacity milestone ahead of the revised December 2026 deadline approved by the Ministry of Heavy Industries.

The company said the MHI decision effectively extends the original timelines by two years.

"The revised timeline is more than an extension. It transforms the economics of our cell business by converting an earlier milestone overhang into a five-year, quarterly PLI opportunity of up to Rs 7,240 crore," Ola Electric Chairman and Managing Director Bhavish Aggarwal said.

Aggarwal added that Ola Electric had not factored any PLI incentives into its business projections after missing the original timelines.

"We hadn't factored any incentives into our business projections after overshooting the original timelines. Ola is now well ahead of the government's revised schedule, and enables us to access the full potential of Rs 7,240 crore and receive disbursement as soon as next quarter," he said.

Ola Electric said lithium cells are becoming a foundational technology across electric mobility, energy storage, drones, robotics and next-generation industrial systems.

The company is developing a multi-chemistry cell platform covering nickel manganese cobalt (NMC) and lithium iron phosphate (LFP) technologies. Its cell strategy includes indigenous research and development, greater localisation of battery materials, improved manufacturing yields and closed-loop material recovery.

Ola Electric said developing advanced battery cell capabilities in India could strengthen the country's energy security and technological independence while helping create a globally competitive domestic battery ecosystem.

The revised ACC PLI timeline comes as Ola Electric seeks to scale its in-house battery manufacturing capabilities and reduce dependence on imported cells and battery components.

Ola Electric is also set to unveil its broader energy product roadmap at its annual Sankalp event on Independence Day.

The company said the roadmap will include Shakti, Mahashakti and the next phase of its energy platform.

The development comes as Ola Electric expands beyond electric scooters into battery technology and broader energy solutions, with cell manufacturing emerging as a key part of its long-term strategy.