Ola Electric receives ₹95.81 crore PLI incentive under auto scheme

Ola Electric Mobility has received a sanction order from the Ministry of Heavy Industries for a ₹95.81-crore incentive under the Production Linked Incentive (PLI) scheme for automobiles and auto components, according to a regulatory filing on Friday.The approved amount relates to the FY27 demand incentive component of the scheme. The payment will be disbursed through IFCI Ltd., the designated agency responsible for releasing PLI incentives.Ola Electric Secures Additional PLI SupportThe latest approval adds to Ola Electric’s previous PLI receipts. The Bengaluru-based electric two-wheeler manufacturer received ₹367 crore for FY25 and another ₹73.74 crore for FY24 under the government programme. Ola Electric Secures 5-Year ACC PLI Window, Set to Unlock Up To ₹7,240 Crore IncentivesThe company’s latest incentive comes amid mixed financial results for the June quarter. Ola Electric reported a net loss of ₹336 crore in Q1 FY27, narrower than the ₹426-crore loss recorded in the corresponding period last year.However, revenue declined substantially, falling 45% year-on-year to ₹455 crore from ₹828 crore. The company’s EBITDA loss also improved to ₹165 crore from ₹237 crore a year earlier.Ola Electric shares ended 3.6% higher at ₹38.98 on the NSE on Friday.New S1Z Scooter Adds to Product PushThe stock had gained 4.38% during the session on August 28 after Chairman and Managing Director Bhavish Aggarwal unveiled the new Ola S1Z electric scooter. The model carries an introductory price of ₹79,999 and uses Ola Electric’s internally developed 46160 LFP Bharat Cell. The company claims an IDC-certified range of 301 km, with deliveries expected to start in December 2026.The S1Z forms part of Ola Electric’s broader strategy of increasing in-house development of critical components as it expands its electric vehicle portfolio and manufacturing capabilities.

Ola previously secured a sanction of ₹73.74 crore for the financial year 2023-24, followed by ₹366.78 crore for the financial year 2024-25