Ola Electric inks pact with heavy industries ministry for making advanced battery cells
Ola Electric on Thursday said it has signed an agreement with the ministry of heavy industries for local manufacturing of advanced battery cells under the government’s production linked incentive scheme.
In March this year, the ministry had announced that four companies — Rajesh Exports NSE 1.32 %, Hyundai Global Motors Company, Ola Electric Mobility and Reliance NSE 0.96 % New Energy — are eligible for receiving benefits under the Production Linked Incentive (PLI) scheme for Advanced Chemistry Cell (ACC NSE 1.03 %) battery storage.
