New Delhi, March 4 -- The Bhavish Aggarwal-led electric vehicle (EV) maker Ola Electric Mobility Limited announced on Tuesday, March 4, that it had missed the deadline for the "Programme Agreement" between the Ministry of Heavy Industries and a wholly-owned subsidiary of the automaker.

The project management agency, IFCI Limited, in a letter, disclosed that the company has failed to start its battery manufacturing operations in its Gigafactories, even with the help of the PLI scheme.

As per the exchange filing, the company is in talks with the relevant authorities to appropriately respond to the matter.

"We would like to inform you that we are in receipt of letter dated March 03, 2025 from IFCI Limited Subject Non-achievement of Milest...