Overview

• ARAI certified all seven S1 Gen 3 models under the government’s PLI scheme, with Ola’s Gen 2 and Gen 3 scooter portfolios now PLI-compliant.
• The incentives range from 13% to 18% of determined sales value through 2028 and apply to models that account for the majority of Ola’s current sales.
• Ola says the certification will strengthen its cost structure and support a shift to EBITDA positivity for the auto division, without committing to a net-profit date.
• Shares climbed about 5% in intraday trade to roughly Rs 51 on the BSE following the announcement, marking a positive market reaction.
• The move follows a weak Q1 FY26 showing a Rs 428 crore consolidated net loss on Rs 828 crore revenue, as the company prepares new models such as S1 Pro Sport and S1 Pro+ 5.2 kWh with deliveries starting from Navratri and January 2026.