Ola Electric Gets Government Notice for Missing Battery Plant Setup Target
Indian electric two-wheeler maker Ola Electric received a letter from the federal government on Tuesday for missing a key milestone in the setup of its planned battery “gigafactory”. Ola was selected in 2022 for the government’s production-linked incentive (PLI) scheme to establish a 20 gigawatts (GW) local battery manufacturing facility in the southern state of Tamil Nadu. The 181-billion-rupee ($2.07 billion or roughly Rs. 18,019 crore) scheme required companies to set up … Read more