Ola Electric shares jumped 5% from the day’s low on Tuesday after the company announced that it has received certification for compliance under the Production Linked Incentive (PLI) scheme for automobiles and auto components. Ola Electric shares were up 3.79% at ₹50.41 apiece around 9.54 am. It has declined 41.53% this year, so far.
The certification, granted by the Automotive Research Association of India (ARAI) under the Ministry of Heavy Industries, covers Ola’s entire Gen 3 scooter portfolio. With this, both its Gen 2 and Gen 3 scooters are now PLI-certified, making the company eligible for incentives ranging between 13% and 18% of the determined sales value (DSV) until 2028.
The Gen 3 line-up—consisting 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—forms the bulk of Ola Electric’s current sales volumes. According to the company, the certification is expected to support margins and boost profitability starting Q2 FY26.
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