Ola Electric Mobility Ltd said the Ministry of Heavy Industries (MHI) has approved revised timelines under the Advanced Chemistry Cell (ACC) Production Linked Incentive (PLI) Scheme for its wholly owned subsidiary, Ola Cell Technologies Pvt Ltd.

The revised timelines provide Ola Electric with a full five-year PLI window through CY2031 for its 20 GWh allocation, potentially unlocking cumulative incentives of up to Rs 7,240 crore. The incentives will be disbursed quarterly, starting from the next quarter.

Ola Electric currently has 2.5 GWh of installed cell-manufacturing capacity, with another 3.5 GWh under installation. The company expects to reach 6 GWh by the end of the current quarter, ahead of the revised December 2026 milestone.

The company said the revised schedule will support the expansion of its cell manufacturing operations towards 20 GWh and strengthen its broader energy business. Ola Electric is developing a multi-chemistry cell platform covering NMC and LFP technologies, alongside efforts to increase localisation, improve manufacturing yields and enable closed-loop material recovery.

The company said the development strengthens the economics of its cell business and provides a recurring incentive opportunity as it scales production.