Ola Electric Technologies Receives First PLI-Automotive Certificate from ICAT, Manesar
Ola Electric's Battery Electric Vehicle - 2W, represented by the Ola S1 Pro (Gen2), successfully met the criteria of DVA of 50 percent (minimum) required for the Automotive PLI certificate.
March 05, 2024. By Abha Rustagi
The certificate was presented by Dr. Hanif Qureshi, Additional Secretary of MHI, to Dr. S.J. Dhinagar, Head of Engineering and Senior Vice President at Ola Electric, in the presence of Saurabh Dalela, Director of ICAT, and senior officials from MHI, ICAT, and Ola Electric.
Ola Electric's Battery Electric Vehicle - 2W, represented by the Ola S1 Pro (Gen2), successfully met the criteria of Domestic Value Addition (DVA) of 50 percent (minimum) required for the Automotive PLI certificate.
The issuance of this certificate by ICAT underscores Ola Electric's commitment to the 'Make in Bharat' Abhiyan, contributing significantly to the strengthening of the domestic production ecosystem.
The PLI Scheme for the Automobile and Auto Component Industry was launched by MHI, under the leadership of Dr. Mahendra Nath Pandey, Union Minister of Heavy Industries, in 2021, with a budgetary outlay of INR 25,938 crore. This visionary scheme aims to boost local production of Advanced Automotive Technology (AAT) products and attract investments in the automotive manufacturing value chain.
The scheme aligns with the National Electric Mobility Mission Plan (NEMMP) 2020, introduced by the Government of India, led by Prime Minister Narendra Modi, to accelerate the adoption of electric vehicles and promote green mobility in the country.
The standard operating procedure (SOP) issued by MHI in April 2023 facilitated a seamless application process for eligible applicants, including Champion Original Equipment Manufacturers (OEM) and Component Champions, by providing necessary formats to be uploaded through the Ministry of Heavy Industries portal.
This milestone achievement reflects the progress made by the Indian automotive industry towards localized production of advanced automotive technology products and incentivizing investments in the automotive sector.
ICAT is currently in the process of evaluating and assessing PLI-Auto applications from other applicants, and it is anticipated that these companies will also receive PLI-Auto Certificates from ICAT, Manesar in the near future.
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