India, March 4 -- Adding to the growing challenges for Ola Electric Mobility, the ministry of heavy industries (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.

As per ET's report, 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. Besides Ola, two other companies, including Reliance and Rajesh Exports which were the beneficiaries of the battery PLI scheme, were also issued the notices.

"These notices are aimed at nudging companies towards quickly achieving battery manufacturing targets defined under the PLI programme. The ...