Particle.news
Download on the App Store
8 ARTICLES
·
34m ago

Ola Electric Secures PLI Nod for Gen 3 Scooters, Stock Rises 5%

Incentives of 13–18% on certified models are expected to lift margins from Q2 FY26.

Ola Electric
An Ola Electric worker assembles a scooter at the company's Futurefactory in Tamil Nadu. Ola Electric aims to turn operationally profitable some time in FY26 as against in Q1 FY26 promised earlier.
Image

Overview

  • ARAI, under the Ministry of Heavy Industries, certified Ola’s Gen 2 and Gen 3 scooter portfolios under the PLI scheme, unlocking incentives worth 13–18% of determined sales value through 2028.
  • The approval covers all seven S1 Gen 3 variants — S1 Pro 3 kWh and 4 kWh, S1 Pro+ 4 kWh, S1 X 2 kWh, 3 kWh, 4 kWh, and S1 X+ 4 kWh — which represent about 56% of current volumes.
  • Management said the certification will strengthen the cost structure and help the auto division target EBITDA positivity starting in the second quarter of FY26.
  • Shares gained about 5% intraday to Rs 51.10 on the BSE after the announcement, with the stock trading higher for the session.
  • Ola also outlined deliveries for new models, with the S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh planned around Navratri and the S1 Pro Sport slated for January 2026.