Ola Electric secures PLI certification for its Gen 3 Scooter Portfolio

Ola Electric, India's largest pure-play EV company, today announced that it has received Certification for Compliance with the eligibility assessment requirements under the Production Linked Incentive (PLI) Scheme for automobile and auto components sector, for its Gen 3 scooter portfolio. This certification was granted by the Automotive Research Association of India (ARAI) under the aegis of the Ministry of Heavy Industries, Government of India to all of the seven Ola S1 Gen 3 scooters.

With this milestone, Ola Electric's Gen 2 and Gen 3 scooter portfolio now stands PLI-certified. The Gen 3 portfolio comprising of S1 Pro 3 kWh, S1 Pro 4 kWh, S1 Pro+ 4 kWh, S1 X 2 kWh, S1 X 3 kWh, S1 X 4 kWh and S1 X+ 4 kWh, represents the majority of the company's current sales. As a result, this certification is set to significantly enhance Ola Electric's profitability from Q2 FY26 onwards.

Spokesperson, Ola Electric Mobility Limited, said, "Securing PLI certification for our Gen 3 scooters, which form the bulk of our sales, is a critical step towards profitability. This will directly strengthen our cost structure and margins, enabling us to deliver sustainable growth. With our auto business targeted to turn EBITDA positive, the certification acts as a strong catalyst to achieve that goal while ensuring our customers continue to get the best-in-class EVs at highly competitive prices."

The PLI certification makes Ola Electric eligible for incentives ranging from 13% to 18% of the determined sales value (DSV) until 2028.

During its annual 'Sankalp' event, the company also announced S1 Pro Sport with 5.2 kWh and 4 kWh, S1 Pro+ 5.2 kWh, and Roadster X+ 9.1 kWh powered by the 4680 Bharat Cell, starting at an introductory price of ₹1,49,999, ₹1,69,999 and ₹1,89,999 respectively. S1 Pro Sport deliveries are set to commence in January 2026, while deliveries of S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh start this Navratri.

Shares of OLA Electric Mobility Limited was last trading in BSE at Rs. 48.59 as compared to the previous close of Rs. 47.18. The total number of shares traded during the day was 22847377 in over 44837 trades.

The stock hit an intraday high of Rs. 49.40 and intraday low of 46.65. The net turnover during the day was Rs. 1104050558.00.

Source : Equity Bulls

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