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Ola Electric secures Rs 366.78 Cr under govt PLI scheme for FY25

Entrackr · 8h ago

Medial

Ola Electric secures Rs 366.78 Cr under govt PLI scheme for FY25 Ola Electric Mobility Limited has received a sanction order for incentives worth Rs 366.78 crore under the government’s Production Linked Incentive (PLI) Scheme for Automobile and Auto Components for FY25. The order was issued in favor of its subsidiary, Ola Electric Technologies Private Limited. The sanctioned amount will be disbursed through IFCI Limited, tied to eligible sales during the year. Ola Electric reported deliveries of 3,59,221 electric two-wheelers in FY25, up from 3,29,549 in the previous fiscal, but it has been losing market share. TVS Motor Company took the top spot in sales in November, with Ola Electric down to fifth. Ola Electric’s revenue declined 46% year-on-year in Q2 FY26, despite narrowed losses through cost controls. The company’s stock hit fresh lows due to weak performance and concerns over promoter Bhavish Aggarwal’s stake sales.