India, Aug. 12 -- The Ministry of Heavy Industries (MHI) has revised the timelines under the advanced chemistry cell (ACC) PLI scheme for Ola Electric's battery subsidiary, Ola Cell Technologies Pvt Ltd (OCT).

The revision gives the company a five-year incentive window through CY2031 for its 20 GWh allocation under the scheme, potentially allowing it to claim cumulative incentives of up to Rs.7,240 Cr, Ola Electric said in an exchange filing.

The actual payouts will depend on the company meeting the applicable conditions under the PLI scheme.

Ola Electric said the incentives would be disbursed quarterly over the next five years, starting from December quarter of 2026. The government's decision effectively extends the company's original...