12 Aug , 2026 By : Debdeep Gupta
Ola Electric Mobility shares were trading in the green on Wednesday morning, rising 1.06% to Rs 40.08 on the BSE, after the company announced that the Ministry of Heavy Industries (MHI), Government of India, had approved revised timelines under the ACC Production Linked Incentive (PLI) Scheme for its wholly owned subsidiary, Ola Cell Technologies Private Limited (OCT).
The revised timelines secure a full five-year PLI window through CY2031 for Ola Electric’s 20 GWh allocation and unlock up to Rs 7,240 crore in cumulative PLI incentives. Disbursements will be made quarterly, beginning next quarter, creating a recurring incentive stream as the company scales its cell business.
Ola Electric currently has 2.5 GWh of installed cell-manufacturing capacity, with another 3.5 GWh under installation. The company said it will reach 6 GWh by the end of the current quarter, achieving the initial installed-capacity milestone well ahead of the revised December 2026 timeline.
The MHI decision has effectively extended the original timelines by two years.
Lithium cells are becoming a foundational technology across electric mobility, energy storage, drones, robotics and next-generation industrial systems. Ola Electric said building these capabilities in India will strengthen the country’s energy security and technology independence while creating a globally competitive domestic battery ecosystem.
The company is building a multi-chemistry cell platform spanning NMC and LFP technologies, supported by indigenous R&D, increased localisation of battery materials, improved manufacturing yield and closed-loop material recovery.
Bhavish Aggarwal, Chairman and Managing Director, Ola Electric, said: "The revised timeline is more than an extension. It transforms the economics of our cell business by converting an earlier milestone overhang into a five-year, quarterly PLI opportunity of up to Rs 7,240 crore. We hadn't factored any incentives into our business projections after overshooting the original timelines. Ola is now well ahead of the government's revised schedule, and enables us to access the full potential of Rs 7,240 crore and receive disbursement as soon as next quarter."
Meanwhile, at its annual Sankalp event on Independence Day, Ola Electric will unveil its broader energy product roadmap, including Shakti, Mahashakti and the next phase of its energy platform.
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