Ola Electric has achieved a significant milestone by becoming the first Indian 2W company to be awarded the Domestic Value Addition (DVA) certificate under the Production Linked Incentive (PLI) Scheme for the automobile and auto component industry.
Meeting the Ministry of Heavy Industries’ DVA criteria, including a minimum of 50%, the certification was presented by the Hon’ble Minister for Heavy Industries Dr Mahendra Nath Pandey and Hon’ble Minister of State for Power and Heavy Industries Krishan Pal Gurjar during the Auto PLI Conclave in New Delhi.
The Automotive Research Association of India (ARAI) granted the certification after thorough product testing and assessments of component localization standards.
Ola Electric sees this as a testament to its integrated manufacturing capabilities and a significant step toward advancing India’s transition to clean mobility.
Under the PLI scheme, Ola Electric is eligible for incentives for up to five consecutive financial years, starting from Fiscal 2024, with incentives ranging between 13% and 18% of the determined sales value (DSV).
Additionally, Ola Electric has been granted a 20GWh capacity under the PLI scheme for Advanced Chemistry Cell (ACC) Battery storage, reinforcing its commitment to sustainable energy solutions.
