Ola Electric Mobility Limited, India’s leading pure-play electric vehicle (EV) company, has achieved a major milestone by securing Production Linked Incentive (PLI) certification for its Gen 3 scooter portfolio. The certification was awarded by the Automotive Research Association of India (ARAI) under the Ministry of Heavy Industries, Government of India, covering all seven models of the Ola S1 Gen 3 scooters.

With this certification, Ola Electric’s Gen 2 and Gen 3 scooters now meet the PLI eligibility requirements for the automobile and auto components sector. This certification makes Ola Electric eligible for incentives ranging from 13% to 18% of the determined sales value (DSV), valid until 2028. This development is expected to provide a significant boost to profitability starting Q2 FY26.

Detailed Portfolio Coverage

The PLI certification applies to the following Gen 3 models, which form the bulk of Ola Electric’s sales:

• S1 Pro 3 kWh

• S1 Pro 4 kWh

• S1 Pro+ 4 kWh

• S1 X 2 kWh

• S1 X 3 kWh

• S1 X 4 kWh

• S1 X+ 4 kWh

According to Ola Electric, the certification will strengthen the company’s cost structure and margins, driving sustainable profitability while enabling the delivery of best-in-class EVs at competitive prices.

A company spokesperson stated, “Securing PLI certification for our Gen 3 scooters, which constitute the majority of our sales, is a critical step towards profitability. With our auto business targeted to become EBITDA positive, this certification is a key catalyst to achieving that goal.”

Financial and Strategic Implications

The PLI incentives are designed to enhance domestic manufacturing and improve profitability for EV manufacturers. For Ola Electric, the certification is expected to:

• Reduce production costs through direct incentives.

• Improve margins on high-volume scooter models.

• Strengthen the company’s position as a leading EV manufacturer in India.

By leveraging the PLI scheme, Ola Electric can accelerate its roadmap toward financial sustainability and continued expansion of its EV market share.

Upcoming Product Launches

During its annual ‘Sankalp’ event, Ola Electric announced new launches under its Gen 3 portfolio:

• S1 Pro Sport with 5.2 kWh and 4 kWh options

• S1 Pro+ 5.2 kWh

• Roadster X+ 9.1 kWh powered by the 4680 Bharat Cell

These scooters are priced at ₹1,49,999, ₹1,69,999, and ₹1,89,999 respectively. Deliveries for S1 Pro Sport will begin in January 2026, while deliveries of S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh will commence during Navratri 2025.

Manufacturing and Innovation

Ola Electric operates the Ola Futurefactory in Tamil Nadu, India’s largest EV hub, with vertical integration of EV technology and component manufacturing. Its Bengaluru-based Battery Innovation Centre (BIC) drives battery and cell development, supporting high-performance EV launches.

Ola Electric’s R&D footprint spans India, the UK, and the US, enabling continuous innovation in EV technology, battery cells, and sustainable mobility solutions. The company’s direct-to-customer distribution network, with over 4,000 stores across India, ensures extensive reach and customer engagement.

Outlook

The PLI certification is a major growth enabler for Ola Electric. By improving margins on its high-volume Gen 3 scooters, the company is positioned for sustainable profitability from Q2 FY26. Combined with new launches and advanced technology, this milestone reinforces Ola Electric’s leadership in India’s electric mobility revolution.

The certification also highlights the Indian government’s commitment to promoting domestic EV manufacturing, supporting companies like Ola Electric in their goal of financial sustainability and technological advancement.

Ola Electric’s focus on innovation, manufacturing excellence, and strategic incentives is expected to create long-term value for customers, investors, and the EV ecosystem in India.

The Upcoming IPOs in this week and coming weeks are Amanta Healthcare, Rachit Paints, Abril Paper Tech, Sneha Organics, Sugs Lloyd, Anlon Healthcare, NIS Management, Sattva Engineering Construction, Globtier Infotech, Current Infraprojects, Vikran Engineering.

The Current active IPO are Shivashrit Foods, Anondita Medicare, Classic Electrodes (India), ARC Insulation & Insulators.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst.