Ola Electric Scooter Buyers can avail Rewards of ARAI's Domestic Value Addition Certificate in PLI Scheme

Key Highlights:

• Ola Electric got certified with Domestic Value Addition under PLI Scheme
• The certificate is granted by Automotive Research Association of India (ARAI)

Ola Electric has received a domestic value addition certificate under the production linked incentive scheme for the automobile and auto component industry.

"The PLI certification is a testament to our vertically integrated manufacturing capabilities and a significant milestone in our quest to accelerate India's journey towards clean mobility.” stated by the spokesperson of Ola Electric.

After meeting the Domestic Value Addition criteria of 50% mandated by the Union Ministry of Heavy Industries, under the Production Linked Incentive (PLI) scheme.

Under this scheme, the company has now become eligible for incentives up to 5 financial years, starting from FY24. The incentive is going to range between 13% and 18% of the DSV.

The given certificate has been granted by Automotive Research Association of India (ARAI). The certificate is given after testing the product and going through checks related to localisation standards of the components. Ola Electric has now become the first two-wheelers company to receive the DVA certificate under PLI scheme.

The PLI Scheme of the government is envisaged to localise the supply chain and increase domestic manufacturing which will result in economic growth and achievement for the company. 
 

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