Ola Electric has become the first electric 2-wheeler maker to receive incentives under the government’s Production-Linked Incentive (PLI) scheme. The company received Rs 73.74 crore for its sales performance in FY2023-24. The PLI scheme offers financial incentives to encourage investment in the auto manufacturing sector and to increase domestic production of Advanced Automotive Technology (AAT) products. Under the PLI scheme, OEMs can receive incentives of up to 18% based on their sales performance. With this, the government aims to make EVs more affordable and promote the adoption of EVs in the Indian market. Ola Electric was also the first electric 2-wheeler maker to receive PLI certification back in December 2023. Source:ET Auto
