Ola Electric claims ₹400 crore PLI incentive for FY25
Ola Electric just put in a ₹400 crore claim under the government's Production Linked Incentive (PLI) scheme for FY25, based on nearly ₹3,000 crore in eligible sales.
This move is set to boost their cash flow and profit margins, all thanks to a scheme that rewards companies for manufacturing more in India.
Only EV maker to get PLI incentives last year
Led by Bhavish Aggarwal, Ola was the only electric two-wheeler brand to actually get PLI incentives last year—and they're leading again this year.
The PLI scheme, which started in 2021 with a massive budget of nearly ₹26,000 crore, is all about pushing local manufacturing.
Gen 3 scooters will attract incentives
Ola's entire Gen 3 scooter lineup—including all S1 models—got certified for PLI perks. That means they'll get incentives of 13-14% on sales.
These scooters make up most of Ola's sales—a win-win that should help profits from later this year.