India's Ola Electric gets government notice for missing battery plant setup target
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 04 2025
0mins
Source: Reuters
Ola Electric's Gigafactory Delay: Ola Electric has received a letter from the Indian federal government for missing a key milestone in establishing its battery gigafactory in Tamil Nadu, which is part of a $2.07 billion production-linked incentive scheme.
Market Impact and Penalties: The company has seen a 40% drop in market value since going public, facing challenges like high costs and weak demand, while also being uncertain about potential penalties related to the missed milestone; Reliance New Energy Solar Limited faced similar issues with its manufacturing timeline.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
