NEW DELHI: Ola Electric, India's largest pure-play electric vehicle (EV) company, has announced a significant milestone that is expected to propel the company toward profitability. The company in a statement on Tuesday said that it has received Certification for Compliance with the eligibility assessment requirements under the Production Linked Incentive (PLI) Scheme for its Gen 3 scooter portfolio.
The certification was granted by the Automotive Research Association of India (ARAI) under the Ministry of Heavy Industries and applies to all seven models within Ola's S1 Gen 3 scooter lineup. This new achievement means that both the Gen 2 and Gen 3 scooter portfolios are now PLI-certified.
The Gen 3 portfolio, which includes models such as the S1 Pro and S1 X, accounts for the majority of the company’s current sales. As a result, this certification is anticipated to significantly enhance Ola Electric's profitability starting from the second quarter of the 2026 fiscal year.
A spokesperson for Ola Electric Mobility Limited stated, “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.” The spokesperson added that the certification will act as a "strong catalyst" for the company to achieve its goal of turning its auto business EBITDA positive, all while continuing to offer competitively priced EVs to customers.
The PLI certification makes Ola Electric eligible for incentives ranging from 13% to 18% of the determined sales value (DSV) until 2028, providing a long-term financial boost.
In addition to this announcement, during its annual 'Sankalp' event, Ola Electric also unveiled new models powered by the 4680 Bharat Cell. These include the S1 Pro Sport with 5.2 kWh and 4 kWh variants, the S1 Pro+ 5.2 kWh, and the Roadster X+ 9.1 kWh. The new models are set to be priced starting at Rs 1,49,999, Rs 1,69,999, and Rs 1,89,999, respectively. Deliveries for the S1 Pro Sport are slated to begin in January 2026, while the S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh will start deliveries during the upcoming Navratri festival.