Ola Receive PLI Certification For Its S1 X Scooters

Ola Electric has achieved a significant milestone by obtaining (PLI) Certification for its S1 X 3 kWh and S1 X 4 kWh scooters. This accomplishment signifies a notable advancement in the company’s expansion and its commitment to India’s electric vehicle (EV) initiative.

Ola Electric has become the sole two-wheeler and pure-play EV manufacturer to attain PLI compliance certification for four products: S1 Air, S1 Pro, and S1 X (both 3 kWh and 4 kWh models). Previously, the company had received PLI certification for the S1 Air at the Auto PLI Conclave in January 2024.

A spokesperson for Ola Electric Mobility Limited highlighted the importance of this achievement: “S1 X 3 kWh and S1 X 4 kWh together contribute to almost half of our revenues, and with the PLI now in place, we will be able to further improve our bottom line. Receiving the PLI certification for the premium and mass-market products affirms our vertically integrated manufacturing strength marking a significant achievement in advancing India’s EV vision. The government’s ambitious Auto PLI Scheme is poised to enhance local supply chains, foster domestic manufacturing, and assist companies in achieving economies of scale.”

The Automotive Research Association of India (ARAI) has certified Ola Electric following thorough testing and verification of component localization. Ola is eligible for incentives under the PLI scheme for up to five consecutive financial years starting from Fiscal 2024. These incentives will range from 13% to 18% of the “determined sales value” (DSV) of the compliant products.

Additionally, Ola Electric has been allocated a 20GWh capacity under the PLI scheme for Advanced Chemistry Cell (ACC) Battery storage as of March 2022. Ola will receive incentives under the Cell PLI scheme for a duration of five years, beginning from the commissioning date of the Ola Gigafactory in Krishnagiri, Tamil Nadu.