Ola’s S1 X 3 Kwh And 4 Kwh Scooters Get PLI Certification

On August 20, 2024, Ola Electric announced that its mass-market scooters, the S1 X 3 kWh and S1 X 4 kWh, have been certified for compliance with the Production Linked Incentive (PLI) Scheme for the automobile and auto components sector.

Both scooters successfully met the government’s 50% minimum localisation requirement, as set by the Ministry of Heavy Industries. This achievement makes Ola Electric the only two-wheeler and pure-play electric vehicle manufacturer with 4 products certified under the PLI scheme: S1 Air, S1 Pro, S1 X 3 kWh, and S1 X 4 kWh. The company had previously received certification for the S1 Air at the Auto PLI Conclave in January 2024.

Spokesperson Ola Electric Mobility Limited said, “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 improve our bottom line further. Receiving the PLI certification for 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) granted certification to Ola Electric after testing the product and verifying the localisation of its components. With this certification, Ola Electric qualifies for incentives under the 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 products.

Additionally, in March 2022, the government awarded Ola Electric 20GWh capacity under its PLI scheme for Advanced Chemistry Cell (ACC) Battery storage. The company will receive incentives under this scheme for 5 years, starting from the commissioning of the Ola Gigafactory in Krishnagiri, Tamil Nadu.

About Ola Electric Mobility Limited

Ola Electric Mobility Limited, established in 2017, is a company that produces electric vehicles and essential components like battery packs, motors, and vehicle frames at its Ola Futurefactory. The company is the largest e-scooter manufacturer in India, holding a 31% market share in the electric two-wheeler (E2W) sector, with 3,29,618 scooters sold in FY24.

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