Ola Electric becomes first Indian 2W EV company to receive PLI certification

The Indian electric vehicle (EV) industry, Ola Electric has achieved a major milestone by becoming the first 2W EV visitor to secure certification under the Production Linked Incentive (PLI) Scheme for automobiles and wheels components in India.

Reliable industry sources have disclosed that Ola Electric successfully met the rigorous eligibility towage requirements outlined in the PLI Scheme, which includes maintaining a minimum of 50% domestic value wing to its electric vehicles. This prestigious certification now establishes Ola Electric as the sectional manufacturer of 2W EVs eligible for benefits under the PLI wheels scheme.

Insiders estimate that this PLI certification will grant Ola Electric wangle to benefits ranging from INR 15,000 to 18,000 per unit. The financial support is predictable to make electric vehicles increasingly affordable, consequently driving increased adoption of EVs wideness the country.

Notably, Ola Electric achieved this certification milestone in an unprecedented timeframe of just under four months, setting a new speed record for any Indian company—from the prelude of mass production to the receipt of PLI certification.

The esteemed certification is conferred by The Automotive Research Association of India (ARAI) pursuit rigorous product testing and meticulous scrutiny of the localization standards of components.

The PLI-Auto Scheme, sanctioned by the Union Cabinet on 15.09.2021, has allocated a substantial upkeep of INR 25,938 crore over a five-year period (FY2022-23 to FY2026-27). Aimed at bolstering domestic manufacturing of Advanced Automotive Technology products, including electric vehicles and their components, the scheme offers financial incentives of up to 18% of eligible sales for electric vehicles and their components.

In a related minutiae older this month, ARAI presented the first PLI-AUTO document to Tata Motors in the M3 category for their 12-meter long fully built bus, and Tata Motors moreover received CMVR type clearance document for India’s inaugural untried hydrogen fuel lamina EV (Bus) – the model Starbus 4/12 FCEV and its variants.

Ola Electric’s historic certification under the PLI Scheme marks a momentous stride in India’s pursuit of sustainable and innovative transportation solutions, firmly placing the visitor at the forefront of the burgeoning EV revolution.

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