Ola Electric Mobility share price rallied as much as 7. 33 per cent to ₹58.01 apiece in Monday’s trading session. The EV maker stock has surged nearly 20 per cent in past five trading sessions.
The stock has been trading in green after the company announced receiving Production Linked Incentive (PLI) certification for its Gen 3 scooter lineup. According to the company, this move is expected to boost margins and profitability starting this quarter.
Ola received PLI Certification for Gen 3 scooter
Last week, Ola Electric announced that it has received certification confirming compliance with the eligibility assessment criteria under the PLI Scheme for the automobile and auto components sector.
The certification applies to all seven models in its Gen 3 S1 scooter range, which contributes to over half of its sales. With this approval, both its Gen 2 and Gen 3 lineups are now PLI-certified.
The certification makes the company for eligible for incentives ranging between 13% and 18% of the determined sales value (DSV) until 2028. Ola stated that this benefit will directly enhance its cost structure, improve margins, and move it closer to achieving EBITDA positivity.
The Gen 3 range features the 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 models, which together account for the majority of its current sales. The certification is anticipated to substantially boost profitability starting from Q2 FY26.
“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. With our auto business targeted to turn EBITDA positive, the certification acts as a strong catalyst to achieve that goal while ensuring our customers continue to get the best-in-class EVs at highly competitive prices,” company spokesperson said.
At its annual ‘Sankalp’ event, the company unveiled the S1 Pro Sport in 5.2 kWh and 4 kWh variants, the S1 Pro+ 5.2 kWh, and the Roadster X+ 9.1 kWh, all powered by the 4680 Bharat Cell. The models are priced at an introductory ₹1,49,999, ₹1,69,999, and ₹1,89,999, respectively. Deliveries for the S1 Pro Sport will begin in January 2026, while the S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh will be delivered starting this Navratri.
Ola Electric Mobility Q1 results 2025
Ola Electric Mobility announced its June quarter results, reporting a sharp decline in performance as its net loss deepened and revenue fell by half compared to the same period last year.
The company posted a net loss of ₹428 crore, higher than the ₹347 crore loss recorded in the corresponding quarter a year ago.
Revenue dropped 50 per cent year-on-year to ₹828 crore, down from ₹1,644 crore in the same quarter last year.