Bhavish Aggarwal-led Ola Electric files Rs 400-crore PLI claim for FY25

ola electric

Ola Electric has filed a claim of about Rs 400 crore under the government's Production Linked Incentive (PLI) scheme for the automobile and auto components sector for FY25, sources told Moneycontrol. 

The claim is based on "eligible sales of around Rs 3,000 crore", translating into an expected incentive of 13–14 percent. The payout is expected to aid the company’s liquidity and financial performance in the upcoming quarters.

Ola Electric did not respond to Moneycontrol's queries.

Launched in 2021 with a total outlay of Rs 25,938 crore, the auto PLI scheme is designed to boost domestic manufacturing and reduce import dependence. To qualify for incentives, companies must meet stringent localisation and regulatory requirements, with incentives linked to incremental sales.

The Bhavish Aggarwal-led company was the only electric two-wheeler original equipment manufacturer (OEM) to secure incentives under the scheme in FY24 and has again emerged as the top filer in the category for FY25.

The company has also received certification of compliance with PLI eligibility norms for its Gen 3 scooter portfolio, which includes all models in the S1 line-up. Since these scooters account for most of its sales, Ola expects the certification to support margins from the second quarter of FY26.

In March 2025, Ola received an incentive of Rs 73.7 crore the PLI auto scheme.

(This is a developing story, please check back for updates)