Ola Electric has achieved another milestone with its S1 X 3 kWh and S1 X 4 kWh scooters receiving certification under the Production Linked Incentive (PLI) scheme. This certification signifies that the scooters meet the required minimum localization level of 50%, as mandated by the Ministry of Heavy Industries.
With this, Ola Electric becomes the only two-wheeler and pure-play EV manufacturer to have received PLI certificates for four products: S1 Air, S1 Pro, S1 X 3 kWh, and S1 X 4 kWh. The company had previously received the certificate for S1 Air in January 2024.
The PLI certification will benefit Ola Electric by improving its bottom line. The company’s spokesperson stated that the S1 X scooters contribute significantly to their revenues, and with PLI incentives, they can further enhance their profitability.
The Automotive Research Association of India (ARAI) granted the certification after rigorous testing and verification of the scooters’ components and localization levels. Ola Electric is eligible for government incentives that can be as high as 18% of the sales value of their S1 X scooters. These incentives will be provided for up to five years.
