OLA ELECTRIC SECURES FULL 5-YEAR ACC PLI WINDOW

OLA ELECTRIC SECURES FULL 5-YEAR ACC PLI WINDOW; INCENTIVES UP TO ₹7,240 CR 🔋⚡️ $OLAELEC • 🇮🇳 Ministry of Heavy Industries revised the ACC PLI timelines for Ola Electric’s battery cell unit. • 💰 Company can now unlock up to ₹7,240 Cr in cumulative PLI incentives over five years through CY2031. • 💵 Incentive disbursements will be made quarterly, beginning next quarter. • 🏭 Ola currently has 2.5 GWh cell manufacturing capacity, with another 3.5 GWh under installation; capacity targeted to reach 6 GWh by end-Q3. • ⏳ Government has effectively extended the original implementation timelines by two years, enabling Ola to access the full five-year incentive window. • 🔋 Incentives relate to Ola’s 20 GWh ACC allocation and support its broader battery-cell and energy roadmap. 🟢 Impact: Positive – Access to up to ₹7,240 Cr of PLI incentives and quarterly payouts could materially improve the economics of Ola’s cell manufacturing business as capacity scales.