Heavy Industries Ministry Notice To Ola Electric, Others For Failing PLI Commitments: Report

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SUMMARY

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

This programme, with a budgetary outlay of INR 18,100 Cr aims to boost domestic battery manufacturing capacity and reduce reliance on imports

Reportedly, 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

Adding to the growing challenges for Ola Electric



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Heavy Industries Ministry Notice To Ola Electric, Others For Failing PLI Commitments: Report


SUMMARY

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

This programme, with a budgetary outlay of INR 18,100 Cr aims to boost domestic battery manufacturing capacity and reduce reliance on imports

Reportedly, 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

Adding to the growing challenges for Ola Electric



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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