Ola Electric secures ACC PLI extension, eligible up to ₹7,240cr
Ola Electric just scored a revised timeline under the government's ACC PLI scheme, eligible for incentives of up to ₹7,240 crore, with incentives disbursed quarterly for five years, giving it incentives available through calendar year 2031 to hit its cell-manufacturing goals.
This means more time, and funding, to ramp up its battery production, with incentives rolling out every quarter starting soon.
Ola aims for 6 GWh capacity
Right now, Ola has 2.5 GWh of installed cell manufacturing capacity and is aiming for 6 GWh by the end of this quarter, well ahead of the new deadline.
It's also working on advanced battery tech and working on localisation of battery materials and cell manufacturing processes.
Plus, at its upcoming Sankalp event, Ola will reveal two new products (Shakti and Mahashakti) as part of a bigger energy strategy to power up India's EV scene.