New Delhi, Aug. 29 -- Ola Electric secured a sanction order for a Rs 95.81 crore incentive under the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components for the third consecutive year, according to a press release issued by the company.

The incentive, amounting to Rs 95,80,91,273, was approved by the Ministry of Heavy Industries, Government of India. The allocation pertained to the Demand Incentive under the PLI-Auto Scheme for the financial year 2026-27.

Under the sanction order, the Ministry authorised the payment for disbursement through IFCI Limited, which acted as the designated Central Nodal Agency under the scheme. The sanction was granted in accordance with the applicable terms and conditions of the PLI-A...