Ola Electric has been granted an incentive of ₹73.7 crore under India's Production Linked Incentive (PLI) Scheme for Automotive and Auto Components, becoming the first two-wheeler EV manufacturer in the country to benefit from this initiative. Launched in September 2021, the PLI-Auto Scheme is focused on enhancing domestic manufacturing in the automotive sector and promoting sustainable mobility solutions. With a total budget of ₹25,938 crore over five years, the scheme aims to reduce import dependency and establish India as a significant player in the global EV supply chain. Ola Electric, known for its Ola S1 range of electric scooters, has taken a leading position in the electric two-wheeler market with a 28% market share as of February 2025. The company has invested significantly in research and development, battery innovation, and the establishment of the Ola Futurefactory, which is among the largest two-wheeler EV production facilities globally. By meeting the Ministry of Heavy Industries' localization criteria of 50%, Ola Electric has five certified products under the PLI scheme. In addition, the company was granted a 20GWh capacity under the PLI scheme for Advanced Chemistry Cell (ACC) Battery Storage in March 2022. It is poised to receive incentives under the Cell PLI scheme following the commissioning of its Gigafactory in Krishnagiri, Tamil Nadu. Despite these positive developments, Ola Electric's financial performance showed a widened net loss of ₹564 crore in Q3 FY25, compared to ₹376 crore in the same period last year. Furthermore, the company's revenue declined by 19.4% to ₹1,045 crore. Nonetheless, Ola Electric remains committed to expanding its presence in the EV sector through localization initiatives and continuous innovation.