Bengaluru, India: The Ministry of Heavy Industries (MHI) has approved revised timelines under the Advanced Chemistry Cell (ACC) Production Linked Incentive (PLI) Scheme for Ola Electric’s wholly owned subsidiary, Ola Cell Technologies Private Limited (OCT), giving the company access to a full five-year incentive window through calendar year 2031.
Under the revised schedule, Ola Electric’s 20 GWh allocation could qualify for cumulative PLI incentives of up to ₹7,240 crore. The incentives are scheduled to be disbursed quarterly, beginning next quarter.
The government’s decision effectively extends the original timelines by two years, according to Ola Electric’s August 12 filing. The revised framework also changes the timeline for the company’s initial installed-capacity milestone.
Ola Electric currently has 2.5 GWh of installed cell-manufacturing capacity, while another 3.5 GWh is under installation. The company expects to reach 6 GWh by the end of the current quarter, ahead of the revised December 2026 milestone.
The company said the revised PLI schedule will provide a recurring incentive stream as it expands its cell manufacturing operations. Its allocation under the scheme is tied to a planned 20 GWh capacity.
Ola Electric Chairman and Managing Director Bhavish Aggarwal said the revised timeline would allow the company to pursue the full incentive opportunity after earlier production timelines were exceeded. He added that PLI incentives had not been included in the company’s business projections following those delays.
Ola Electric is developing a multi-chemistry cell platform covering NMC and LFP technologies. The company said its battery programme is supported by domestic research and development, greater localisation of battery materials, improvements in manufacturing yield and closed-loop material recovery.
The company operates an electric vehicle and energy technology manufacturing ecosystem that includes the Ola Futurefactory, an operational Gigafactory in Tamil Nadu and the Bengaluru-based Battery Innovation Centre.
The revised ACC PLI timeline gives Ola Electric additional time to scale its cell manufacturing programme while retaining eligibility for incentives over the five-year period ending in 2031.
Source: This article is based on an official press release issued by Ola Electric
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