Shares of Ola Electric surged more than 6% on April 6, after the company announced a major milestone under the government’s Production Linked Incentive (PLI) scheme, strengthening its push into India’s fast-growing electric motorcycle segment.
The company revealed that its Roadster X+ 11 kW 4.5 kWh has received certification for compliance with eligibility requirements under the PLI-Auto Scheme. The certification was granted by the Global Automotive Research Centre (GARC), confirming that the model meets minimum Domestic Value Addition (DVA) norms.
This development makes the Roadster X+ 4.5 kWh the first motorcycle in Ola Electric’s Roadster portfolio to secure PLI certification. The approval qualifies the model for government incentives under the scheme, potentially improving margins and boosting competitiveness in the electric two-wheeler market.
The milestone highlights Ola Electric’s ongoing focus on deep localisation and vertically integrated manufacturing. By increasing domestic value addition and reducing reliance on imports, the company is positioning itself as a key contributor to India’s evolving EV ecosystem.
The announcement comes alongside another strategic move aimed at accelerating demand. Ola Electric recently slashed the price of its Roadster X+ 9.1 kWh variant, powered by its indigenously developed 4680 Bharat Cell. The model is now priced at ₹1,29,999, significantly lower than its earlier price of ₹1,89,999, with availability limited to select purchase windows.
The price cut has been enabled by improved economies of scale at its Gigafactory and advancements in in-house cell production, allowing the company to pass on cost efficiencies directly to customers.