Ola Electric Mobility has achieved another significant milestone with its mass-market scooters S1 X 3 kWh and S1 X 4 kWh receiving Certification for Compliance with the eligibility assessment requirements as per the Production Linked Incentive (PLI) Scheme for the automobile and auto components. Both the S1 X 3 kWh and S1 X 4 kWh scooters have successfully met the stringent minimum localization criteria of 50%, as mandated by the Ministry of Heavy Industries.
With this, Ola Electric has become the only 2W and pure-play EV manufacturer to receive the certification for compliance with the eligibility assessment requirements (PLI certificate) for four products - S1 Air, S1 Pro, S1 X (3 kWh, and 4 kWh). The company had earlier received the certificate for S1 Air at the Auto PLI Conclave organised in January 2024.
The certification has been granted by The Automotive Research Association of India (ARAI) after testing of the product and checks on the localisation of the components. Under the scheme, Ola Electric is eligible for incentives for up to five consecutive financial years, commencing from Fiscal 2024. The incentive would range between 13% and 18% of the determined sales value (DSV) of the products.
Ola Electric has also been awarded 20GWh capacity by the government under its PLI scheme for Advanced Chemistry Cell (ACC) Battery storage in March 2022. The company is eligible to receive incentives under the Cell PLI scheme over a five-year period from the date of commissioning of the Ola Gigafactory in Krishnagiri, Tamil Nadu.
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