Ola Electric gets ₹95.8 crore PLI boost as it works to cut cash burn

•Ola Electric Mobility secured ₹95.8 crore under the government's PLI scheme for automobiles and auto components.

•The incentive will be released through IFCI, the central nodal agency, providing a cash-flow boost to the electric two-wheeler maker.

•Ola expects the PLI incentive to provide additional liquidity without requiring fresh equity or debt.

•The company aims to reduce its cash burn and steady-state operating cost base to around ₹300 crore a quarter.