India, Aug. 12 -- Ola Electric Mobility Ltd said the Ministry of Heavy Industries (MHI) has approved revised timelines under the Advanced Chemistry Cell (ACC) Production Linked Incentive (PLI) Scheme for its wholly owned subsidiary, Ola Cell Technologies Pvt Ltd.
The revised timelines provide Ola Electric with a full five-year PLI window through CY2031 for its 20 GWh allocation, potentially unlocking cumulative incentives of up to Rs 7,240 crore. The incentives will be disbursed quarterly, starting from the next quarter.
Ola Electric currently has 2.5 GWh of installed cell-manufacturing capacity, with another 3.5 GWh under installation. The company expects to reach 6 GWh by the end of the current quarter, ahead of the revised December 202...