New Delhi, July 14 -- Ola Electric Mobility Ltd has said that it will not meet the timelines set by the government to get incentives under the production-linked incentive scheme as it doesn't believe it needs to build beyond 5GWh capacity for its cell manufacturing plant until financial year 2029.

The delay in expanding beyond 5GWh capacity comes as the firm pivots to a more profitability-centric approach than looking at aggressive penetration after reporting a 50% year-on-year drop in revenue to Rs.828 crore and a surge in losses to Rs.428 crore in the April-June period. However, the company achieved operational profitability in June for its automobile business, which led to an 18% jump in its stock price.

During Ola Electric's quarter...