Ola Electric Mobility today announced that the Ministry of Heavy Industries (MHI), Government of India, has approved revised timelines under the ACC Production Linked Incentive Scheme for Ola Cell Technologies (OCT), its wholly owned subsidiary.

The MHI revision is much more than a timeline extension. The approval secures a full five year PLI window through CY2031 for Ola Electric's 20 GWh allocation and unlocks up to Rs 7,240 crore in cumulative PLI incentives.

Disbursements will be made quarterly, beginning next quarter, creating a recurring incentive stream as Ola Electric scales its cell business.

Ola Electric currently has 2.5 GWh of installed cell-manufacturing capacity, with a further 3.5 GWh under installation. The company 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. Building these capabilities in India will strengthen the country's energy security and technology independence while creating a globally competitive domestic battery ecosystem.

Ola Electric 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.