The certification, granted by the Automotive Research Association of India (ARAI) under the aegis of the Ministry of Heavy Industries, covers all seven Ola S1 Gen 3 scooters. Ola Electric highlighted in its exchange filing that the Gen 3 portfolio, which includes the 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 56% of its overall volumes and forms the majority of its current sales.
With this, Ola Electric’s Gen 2 and Gen 3 scooter portfolio now stands PLI-certified. The company noted that the certification makes it eligible for incentives ranging from 13% to 18% of sales value until 2028. It added that this classification is likely to significantly enhance profitability from the second quarter of FY26 onwards.
A spokesperson for 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.”
In the June quarter, Ola Electric reported a net loss of Rs 428 crore, which narrowed on a sequential basis but widened compared with the same period last year. The company said its revenue halved to Rs 828 crore from Rs 1,644 crore a year earlier but increased sequentially. Gross margins expanded both on a year-on-year basis and compared with the previous quarter.
During its annual ‘Sankalp’ event, Ola Electric also announced new product launches, including the S1 Pro Sport with 5.2 kWh and 4 kWh, the S1 Pro+ 5.2 kWh, and the Roadster X+ 9.1 kWh powered by the 4680 Bharat Cell. These are priced at Rs 1,49,999, Rs 1,69,999 and Rs 1,89,999 respectively. Deliveries of the S1 Pro Sport will begin in January 2026, while deliveries of the S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh are set to start this Navratri.Also read | Ola Electric shares have halved in 2025. Analysts say Rs 57 within reach—should you buy?(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
