Ola Electric: Ola Electric’s battery unit receives IFCI notice for missing PLI-ACC scheme targets

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Ola Electric Mobility said it is engaging with relevant authorities and in the process of filing an appropriate response, after IFCI Ltd wrote to its subsidiary Ola Cell Technologies about it failing to meet targets under the production-linked incentive scheme for advanced chemistry cell.

IFCI, the project management agency for some of the PLI schemes, has flagged non-achievement of the first milestone under the scheme, the Bengaluru-based company said in a stock exchange filing on Tuesday.

The Ola Electric unit, Reliance New Energy Battery Storage and…



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Ola Electric: Ola Electric’s battery unit receives IFCI notice for missing PLI-ACC scheme targets


Ola Electric Mobility said it is engaging with relevant authorities and in the process of filing an appropriate response, after IFCI Ltd wrote to its subsidiary Ola Cell Technologies about it failing to meet targets under the production-linked incentive scheme for advanced chemistry cell.

IFCI, the project management agency for some of the PLI schemes, has flagged non-achievement of the first milestone under the scheme, the Bengaluru-based company said in a stock exchange filing on Tuesday.

The Ola Electric unit, Reliance New Energy Battery Storage and…



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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