Ola Electric shares jump 5% after firm secures Rs 367-crore PLI-Auto incentive for FY25

Ola Electric share price

• Ola Electric shares up 5% after Rs 367 crore PLI-Auto incentive approval
• Incentive sanctioned for FY25 sales under the government's PLI-Auto scheme
• Ola Electric shares have jumped 10 percent in the past five days

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The shares of Ola Electric Mobility jumped more than 5 percent on December 26 after the company said that the government has sanctioned the payment of incentives worth Rs 366.78 crore under the PLI-Auto scheme for claimed pertaining to FY25.

The shares of the company rose to Rs 37.25 apiece, extending gains for the second consecutive session.

Ola Electric secures Rs 367-crore PLI-Auto incentive for FY25:

In an exchange filing released on December 25 (when markets were closed on account of Christmas), the EV scooter-maker announced that the sanction pertains to the demand incentive for the determined sales value for FY25.

The company on Thursday received the sanction order from the Ministry of Heavy Industries for the release of incentives through IFCI Limited, the designated financial institution for disbursement under the scheme. It added that the incentive has been sanctioned in accordance with the applicable terms and conditions of the PLI-Auto Scheme, as amended from time to time.

This milestone reinforces Ola Electric’s role as a key contributor to India’s advanced automotive manufacturing ecosystem and reflects the company’s strong execution across scale, localisation, and technology-led vertically integrated manufacturing, the company said.

Speaking about the development, Ola Electric spokesperson said, “The sanction of ₹366.78 crore under the PLI-Auto Scheme is a strong endorsement of Ola Electric’s manufacturing capabilities and our commitment to building world-class EV technology in India. This incentive recognises our sustained efforts in scaling domestic production, deepening localisation, and driving innovation across the electric mobility value chain.”

“We remain committed to supporting the Government of India’s vision of making India a global hub for advanced automotive manufacturing and clean mobility,” the spokesperson added.

In August, the company secured compliance certification under the government's production-linked incentive scheme for auto and components sector, covering its Gen 3 scooter line.

Ola Electric share price history:

Ola Electric shares have jumped 19 percent in the past five days. This comes after the stock fell 15 percent in the past six months, and 61 percent in the past one year.

The stock is for far down nearly 58 percent in 2025 so far, as against rival Ather Energy's 138 percent rise since listing on May 6.

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