Ola Electric Gen 3 Scooters Secure PLI Certification from ARAI

Ola Electric said on Tuesday that the Production Linked Incentive program for the automotive and auto component industries has certified its Gen 3 scooter lineup.

The Automotive Research Association of India (ARAI) certified each of the seven Ola S1 Gen 3 scooters. Ola Electric, a Bengaluru-based company, announced in a statement that its Gen 2 and Gen 3 scooter portfolio is now PLI-certified as a result of this milestone.

The business stated that the majority of its current sales are from its Gen 3 portfolio, which includes 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."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," a company spokesperson said.

Also Read: Tata Motors Reenters SA Market with New Models and Motus Alliance

With the auto business projected to turn EBITDA (earnings before interest, taxes, depreciation and amortisation) positive, the certification will act as a solid catalyst for that outcome while also ensuring that customers continue to get best-in-class EVs (electric vehicles) at the most competitive prices, the spokesperson said. The PLI certification makes Ola Electric eligible for incentive payments between 13 per cent to 18 per cent of its determined sales value (DSV) until 2028.