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Ola Electric Technologies Receives First PLI-Automotive Certificate from ICAT

Ola Electric Technologies Receives First PLI-Automotive Certificate from ICAT

Manesar:  To boost the Indian automotive industry, the International Centre for Automotive Technology (ICAT), Manesar, a division of the National Automotive Board (NAB) under the Ministry of Heavy Industries (MHI), Government of India, has awarded its inaugural Production Linked Incentive (PLI) – Automotive Certificate to M/s. Ola Electric Technologies Pvt. Ltd.

The certificate was formally presented by Dr. Hanif Qureshi, Additional Secretary – MHI, to Dr. S.J. Dhinagar, Head of Engineering & Sr. VP- Ola Electric, at a ceremony attended by Shri Saurabh Dalela, Director-ICAT, and senior officials from MHI, ICAT, and Ola Electric.

M/s. Ola Electric’s Battery Electric Vehicle – 2W, specifically the Ola S1 Pro (Gen2), met the stringent criteria of Domestic Value Addition (DVA) of 50% (minimum) for the Automotive PLI certificate. This accomplishment highlights Ola Electric’s commitment to the indigenization of advanced automotive technology products and their dedication to the ‘Make in Bharat’ Abhiyan.

This recognition aligns with the broader vision of the Government of India, led by Prime Minister Shri Narendra Modi, under the National Electric Mobility Mission Plan (NEMMP) 2020. The NEMMP aims to propel the nation towards Green Mobility by setting goals and timelines for the production and adoption of Electric Vehicles.

The PLI Scheme for the Automobile and Auto Component Industry, launched by MHI in 2021 under the leadership of Dr. Mahendra Nath Pandey, Union Minister of Heavy Industries, with a budgetary outlay of Rs. 25,938 crore, aims to boost local production of Advanced Automotive Technology (AAT) products. This initiative seeks to attract investments in the automotive manufacturing value chain, fostering the vision of Aatma Nirbhar Bharat.

The Standard Operating Procedure (SOP) issued by MHI in April 2023 facilitated a streamlined application process, with eligible applicants, including Champion OEMs (Original Equipment Manufacturers) and Component Champions, uploading necessary formats through the Ministry of Heavy Industries portal.

This milestone achievement signifies substantial progress in the Indian automotive industry, demonstrating a shift towards localized production of advanced automotive technology products. It also emphasizes the success of incentivizing investments in the automotive sector. ICAT is currently in the process of evaluating and assessing PLI-Auto applications from other eligible applicants, with more companies set to receive PLI-Auto Certificates soon.

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