Ola Electric Mobility Ltd.OLAELEC₹51.20 +5.41%

Bengaluru-based Ola Electric Mobility Ltd., India’s largest pure-play EV manufacturer, announced that its Gen 3 scooter portfolio has received Production Linked Incentive (PLI) certification from the Automotive Research Association of India (ARAI). This certification, granted under the Ministry of Heavy Industries’ PLI scheme, makes Ola’s Gen 2 and Gen 3 scooters eligible for incentives ranging from 13% to 18% of the determined sales value (DSV) until 2028.

Following the announcement, shares of Ola Electric surged up to 6%, reaching an intraday high of ₹51.80 apiece.

The PLI-certified lineup covers Ola’s best-selling models, including the S1 Pro 3 kWh, S1 Pro 4 kWh, S1 Pro+ 4 kWh, and the S1 X series, which together represent the majority of the company’s current sales. With the certification directly boosting margins, Ola expects profitability to improve meaningfully from Q2 FY26 onwards. “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,” an Ola Electric spokesperson said.

The milestone comes alongside the company’s expansion of its product line. At its recent ‘Sankalp’ event, Ola unveiled the S1 Pro Sport and Roadster X+ powered by its in-house developed 4680 Bharat Cell, with deliveries set to begin from Navratri and early 2026.

Backed by its Futurefactory in Tamil Nadu and a global R&D network, Ola Electric is positioning itself as a leader in India’s EV transition. The PLI certification is expected to accelerate this journey, offering a strong pathway to profitability while ensuring customers continue to benefit from competitive pricing in the fast-growing EV two-wheeler market.

Note: The stock price mentioned is as of 12:11 pm.

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