New Delhi, Aug. 12 -- Ola Electric, which was allotted 20GWh battery-making capacity under the Rs.18,100 crore production-linked incentive scheme for advanced chemistry cells (PLI ACC), said it had received approval from the heavy industries ministry for revised timelines, with quarterly incentives of Rs.7,240 crore till 2031.

The company is on track to install 6GWh of capacity for nickel manganese cobalt (NMC) and lithium iron phosphate (LFP) batteries by the end of the current quarter, it said in a statement to exchanges.

The revision in timelines, an extension for cell makers under the scheme, assumes importance as the government has disbursed no funds under this 2021 scheme yet. Other beneficiaries under the PLI ACC scheme are Relia...