Ola Electric shares rally 5% after Rs 366.78 crore PLI incentive sanctioned for FY25

Shares of Ola Electric Mobility surged 5.4% to their intraday high of Rs 37.28 on the BSE on Friday, December 26, after the company secured a Rs 366.78 crore incentive under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components for the financial year 2024-25.

According to a regulatory filing, Ola Electric Technologies, a wholly owned subsidiary of Ola Electric Mobility, received a sanction order dated December 24 from the Ministry of Heavy Industries, Government of India.

The order pertains to the release of a demand incentive to IFCI Limited, which has been designated as the disbursing financial institution for this scheme.


The incentive amount of Rs 366.78 crore has been sanctioned against the company’s Determined Sales Value for FY 2024-25.

This is in line with the PLI-Auto Scheme, a flagship initiative by the Government of India aimed at promoting domestic manufacturing, advanced automotive technologies, and India’s global competitiveness in the auto and auto components sector.

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The scheme is designed to boost local production and encourage large-scale investments by offering performance-linked fiscal incentives. Ola Electric stated that the incentive has been sanctioned in accordance with the applicable terms and conditions of the PLI-Auto Scheme, as amended from time to time.

“The sanction of Rs 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,” said an Ola Electric spokesperson, while commenting on the occasion.

On Wednesday, the shares of Ola Electric closed 1.75% higher at Rs 35.37 on the BSE.

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