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Ola Electric Mobility said that its full -owned subsidiary company for the advanced chemical cell for the Production Based Incentive Scheme for the IFCI Ltd. The letter has been received from According to government sources, the company has not been able to meet the production and investment criteria fixed under the PLI-ACC scheme.
New Delhi. Ola Electric Mobility said that its full -owned subsidiary company for the advanced chemical cell for the Production Based Incentive Scheme for the IFCI Ltd. The letter has been received from According to government sources, the company has not been able to meet the production and investment criteria fixed under the PLI-ACC scheme. Ola Electric said in the information to the stock market that IFCI Ltd. to not meet the target (Milestone-1) according to the schedule M of the program agreement of July 28, 2022. A letter has been received from.
The company is connected to the officials concerned in this regard and is in the process of filing appropriate response. Ola Electric Mobility Cell Technologies, a company -owned subsidiary of the company, had signed an agreement with the Ministry of Heavy Industries to avail the scheme. IFCI Ltd. under the scheme The Project Management Agency was appointed for the PLI ACC scheme.
When asked about this, Ola spokesperson said, “We started production production in our Giga Factory in March 2024 and successfully obtained BIS certificate for our lithium-ion cell in May 2024. We have already announced the commencement of speech production of our cell from the first quarter of FY 2025-26 and we are proceeding as per the plan to complete the work in the stipulated time.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from the feed of PTI-language.
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