₹366.78 Cr PLI: EV stock gains 5.4% as it secures PLI incentive from the Govt

Synopsis: The  share of this company surged 5.4 percent after it secured PLI incentive from Ministry of Heavy Industries, in regards to its ongoing contribution to India’s goal of becoming a global hub of automotive manufacturing.

The share of this company that primarily manufactures electric vehicles and core components for electric vehicles, like battery packs, motors, and vehicle frames, in focus after it received a sanction order from the government, thereby aiding its growth.

With a market capitalization of Rs 15,994 crore, Ola Electric Mobility Ltd’s shares on Friday made a day high of Rs 37.28 per share, up by 5.40 percent from its previous day’s close price of Rs 35.37 per share. The share has given a negative return of 61.38 percent over the last one year.

What Happened

Ola Electric has received a major boost from the government, with its subsidiary Ola Electric Technologies being sanctioned Rs 366.8 crore under the Production Linked Incentive (PLI) scheme for automobiles. The incentive, approved by GOI, the Ministry of Heavy Industries for FY25 sales, will be routed through IFCI, reinforcing Ola’s scale-up efforts in India’s EV manufacturing push

The company said the approval underlines its strong execution in scaling manufacturing, deepening localisation, and building technology-led, vertically integrated EV operations in India. Ola Electric added that the incentive reinforces its commitment to supporting the government’s vision of making India a global hub for advanced automotive manufacturing and clean mobility.

About the company

Founded in 2017, Ola Electric Mobility Limited is an electric vehicle company that primarily manufactures electric vehicles and core components for electric vehicles. These components include battery packs, motors, and vehicle frames, all produced at the Ola Future & Giga factory. It is the largest electric two-wheeler (E2W) manufacturer in India, with a market share of 19.6% in Q1 FY26 and deliveries of 68,192 units during the quarter.

Financial highlights, revenue declined by 43 percent to Rs. 690 crore corresponding to its same quarter in the last financial year. EBDIT grew by 46 percent YoY to a negative number of Rs. 203 crore and the Net profit grew by 16 percent YoY to a loss of Rs 418.

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