Ola Electric Mobility Limited ( (IN:OLAELEC) ) has shared an update.
Ola Electric Mobility Limited announced that its subsidiary, Ola Electric Technologies Private Limited, has received a sanction order from the Ministry of Heavy Industries in India. This order approves a payment of over Rs. 73 crores as an incentive under the Production Linked Incentive Scheme for Automobile and Auto Components for the fiscal year 2023-24. This financial boost is expected to enhance Ola Electric’s operational capabilities and strengthen its position in the electric vehicle market, potentially benefiting stakeholders by accelerating the company’s growth and innovation in the sector.
More about Ola Electric Mobility Limited
Ola Electric Mobility Limited operates in the electric vehicle industry, focusing on the production and development of electric vehicles and related technologies. The company is known for its innovative approach to sustainable transportation solutions and aims to revolutionize the electric mobility sector.
YTD Price Performance: -35.12%
Average Trading Volume: 3,262,062
Current Market Cap: 246.8B INR
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