Overview
- The Ministry of Heavy Industries issued a sanction order for Rs 366.78 crore as the PLI-Auto demand incentive tied to Ola Electric’s determined FY2024-25 sales.
- Disbursement will be routed through IFCI Limited, the government-designated institution for releasing PLI-Auto incentives.
- The approved payout closely tracks Ola’s earlier claim of about Rs 400 crore based on roughly Rs 3,000 crore in eligible FY25 sales at an estimated 13–14% rate.
- Ola described the sanction as recognition of its domestic manufacturing scale, localisation progress and EV technology development.
- The payout arrives as the company manages operational and regulatory pressures and follows promoter Bhavish Aggarwal’s share sale of over Rs 300 crore used to repay promoter-level debt.