India, March 5 -- Listed EV major Ola Electric has reportedly become the first two-wheeler EV manufacturer to receive incentives under the Centre's PLI Scheme for automotive and auto components.

A Moneycontrol report said that the company has been granted an incentive of INR 73.7 Cr based on its sales for the financial year 2023-24.

Ola Electric declined to comment on the development.

As per Vahan portal, Ola Electric's total EV registrations stood at 3.29 Lakh units in FY24 as against 1.52 Lakh units in FY23.

It is pertinent to note that the company secured PLI certificates for all its 5 products in the premium as well as mass-market segment last year.

The certification made the Bhavish Agarwal-led EV maker the first company to get ...