{"id":252668,"date":"2025-03-06T01:45:18","date_gmt":"2025-03-06T01:45:18","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/06\/ola-electric-gets-government-notice-for-missing-battery-plant-setup-target\/"},"modified":"2025-03-06T01:45:18","modified_gmt":"2025-03-06T01:45:18","slug":"ola-electric-gets-government-notice-for-missing-battery-plant-setup-target","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/06\/ola-electric-gets-government-notice-for-missing-battery-plant-setup-target\/","title":{"rendered":"Ola Electric Gets Government Notice for Missing Battery Plant Setup Target"},"content":{"rendered":"
\"Ola<\/div>


\n<\/p>\n

\n

Indian\u00a0electric\u00a0two-wheeler maker\u00a0Ola\u00a0Electric<\/a>\u00a0received a letter from the federal\u00a0government\u00a0on Tuesday for\u00a0missing\u00a0a key milestone in the\u00a0setup\u00a0of its planned\u00a0battery\u00a0“gigafactory”.<\/p>\n

Ola<\/a>\u00a0was selected in 2022 for the\u00a0government’s production-linked incentive (PLI) scheme to establish a 20 gigawatts (GW) local\u00a0battery\u00a0manufacturing facility in the southern state of Tamil Nadu.<\/p>\n

The 181-billion-rupee ($2.07 billion or roughly Rs. 18,019 crore) scheme required companies to set up manufacturing facilities within two years.\u00a0Ola\u00a0Electric\u00a0has previously said it would begin commercial operations at the manufacturing facility by April.<\/p>\n

Its Tuesday statement said the company was actively engaged with relevant authorities, but did not offer details about the missed milestone or spell out what steps the\u00a0government\u00a0could take next.<\/p>\n

Ola\u00a0Electric\u00a0has lost roughly 40 percent of its market value since going public last year, pressured by high costs, weak demand and deep discounts that have led to job cuts in its push for profitability.<\/p>\n

Earlier in the day, Mukesh Ambani-led Reliance<\/a> New Energy Solar Limited also received a similar letter from the federal\u00a0government\u00a0for\u00a0missing\u00a0its timeline to set up a manufacturing\u00a0plant\u00a0under the same scheme.<\/p>\n

Reliance said its penalties stood at 31 million rupees ($355,293 or roughly Rs. 3.09 crore) as of March 3, and that it had asked the\u00a0government\u00a0for more time to set up its manufacturing\u00a0plant.<\/p>\n

It was not immediately clear how much\u00a0Ola’s potential penalties would be.<\/p>\n

\u00a9 Thomson Reuters 2025<\/em><\/p>\n

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)<\/i><\/p>\n<\/div>\n

For details of the latest launches and news from Samsung, Xiaomi, Realme, OnePlus, Oppo and other companies at the Mobile World Congress in Barcelona, visit our MWC 2025 hub<\/a>.<\/p>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Indian\u00a0electric\u00a0two-wheeler maker\u00a0Ola\u00a0Electric\u00a0received a letter from the federal\u00a0government\u00a0on Tuesday for\u00a0missing\u00a0a key milestone in the\u00a0setup\u00a0of its planned\u00a0battery\u00a0“gigafactory”. Ola\u00a0was selected in 2022 for the\u00a0government’s production-linked incentive (PLI) scheme to establish a 20 gigawatts (GW) local\u00a0battery\u00a0manufacturing 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 […]<\/p>\n","protected":false},"author":2,"featured_media":252669,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/i.gadgets360cdn.com\/large\/ola_electric_ipo_reuters_1722090442545.jpg","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[1717,4178,3953,27259,3954,273,195605,2694,7044,20463,5642,28320,6574],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/252668"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=252668"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/252668\/revisions"}],"predecessor-version":[{"id":252670,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/252668\/revisions\/252670"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/252669"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=252668"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=252668"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=252668"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}