What happened
Ola Electric Mobility reported that the Ministry of Heavy Industries approved revised production timelines for Ola Cell Technologies, a wholly owned subsidiary of Ola Electric Mobility. Ola Electric Mobility linked the approval to the ACC production-linked incentive (PLI) scheme and said the revised timelines expand the effective incentive period for a planned capacity allocation.
According to Ola Electric Mobility, the approval:
- Grants an effective full five-year PLI window through calendar year 2031 for a 20 GWh allocation.
- Could unlock cumulative incentives of up to ₹7,240 crore (as stated by Ola Electric Mobility).
Background and earlier position
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