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26-Aug-2025     10:17
Ola Electric climbs on PLI certification for Gen 3 scooter portfolio
The Automotive Research Association of India (ARAI), under the Ministry of Heavy Industries, granted the certification after assessing compliance with eligibility requirements. The approval covers all seven Ola S1 Gen 3 models -- 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.

With this milestone, Ola's entire Gen 2 and Gen 3 scooter line-up is now PLI-certified. The Gen 3 range constitutes the bulk of the company's sales, and the certification is expected to materially boost profitability from Q2 FY26.

Under the scheme, Ola Electric will be eligible for incentives of 13% to 18% of the determined sales value (DSV) until 2028.

The company's spokesperson 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.

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 Rs 1,49,999, Rs 1,69,999 and Rs 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.

Ola Electric Mobility is India's leading electric vehicle (EV) manufacturer. It specialises in the vertical integration of technology and manufacturing for EVs and their components, including battery cells. Ola maintains a direct-to-customer distribution network and an online presence.

The company's consolidated net loss narrowed to Rs 428 crore in Q1 FY26 as against net loss of Rs 870 crore in Q4 FY25. Revenue from operations jumped 35.52% QoQ to Rs 828 crore in Q1 FY26.

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