Heavy Industries Ministry Notice To Ola Electric, Others For Failing PLI Commitments: Report

MHI has reportedly issued a notice to the EV major for failing to meet its commitments under the National Programme on Advanced Chemistry Cell (ACC) Battery Storage PLI scheme

This programme, with a budgetary outlay of INR 18,100 Cr aims to boost domestic battery manufacturing capacity and reduce reliance on imports

Reportedly, Ola Electric will face a penalty of INR 12.5 lakh per day starting January 1, 2025, until it fulfils its commitments under the PLI scheme

Adding to the growing challenges for Ola Electric…