Bengaluru, Aug. 12 -- Ola Electric Mobility said on Wednesday that the Ministry of Heavy Industries has extended timelines under the ACC Production Linked Incentive (PLI) scheme for its battery unit, securing a five-year incentive window through 2031 and allowing the company to access up to Rs 7,240 crore in cumulative incentives.

The incentives will be disbursed quarterly from the next quarter, giving Ola Electric a recurring incentive stream as it scales its cell-manufacturing business, the company said in a stock exchange filing.

The revised timelines apply to Ola Electric's wholly owned subsidiary Ola Cell Technologies and its 20 GWh allocation under the ACC PLI scheme. The company said the government decision effectively extends th...