Heavy Industries Ministry Issues Notice to Ola Electric and Others for Non-Compliance with PLI Commitments: Report
The Ministry of Heavy Industries (MHI) has reportedly sent a notice to Ola Electric for failing to adhere to its obligations under the National Programme on Advanced Chemistry Cell (ACC) Battery Storage Production-Linked Incentive (PLI) scheme. This initiative, with a financial allocation of INR 18,100 crore, is designed to enhance domestic battery manufacturing capabilities and decrease dependence on imports.
According to reports, Ola Electric is set to incur a penalty of INR 12.5 lakh per day starting January 1, 2025, until it meets its commitments under the PLI scheme. This situation adds to the mounting challenges faced by Ola Electric.
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