During the Auto PLI Conclave which was held at Pragati Maidan on Wednesday, Ola Electric became the first Indian two-wheeler company to obtain the Domestic Value Addition (DVA) certificate under the PLI scheme for the automobile and auto component industry. The EV maker has met the Ministry of Heavy Industries' mandated local DVA criteria of a minimum 50 per cent.
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This certification was granted by The Automotive Research Association of India (ARAI) after product testing and assessment of localisation standards. The company will receive incentives over a five-year period from the commissioning date of the Ola Gigafactory in Krishnagiri, Tamil Nadu. The incentives will range between 13 per cent to 18 per cent of the "determined sales value" (DSV) , the company said in the statement.
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A spokesperson for Ola said, “The proactive approach of the government in implementing the PLI Scheme for Automobile and Auto Component Industry will certainly put India on a fast lane to becoming the manufacturing superpower of the world. The PLI certification is a testament to our vertically integrated manufacturing capabilities and a significant milestone in our quest to accelerate India’s journey towards clean mobility. The government’s auto PLI scheme will certainly go a long way in localising supply chains and boosting domestic manufacturing while also helping companies achieve economies of scale.”
Written by : RONIT AGARWAL
