Ola Electric Mobility , India's largest pure-play EV company, has achieved a significant milestone in its journey towards profitability. The company has successfully obtained Production Linked Incentive (PLI) certification for its Gen 3 scooter range, a move that is expected to enhance its financial performance in the coming years.

PLI Certification Details

The certification, granted by the Automotive Research Association of India (ARAI) under the Ministry of Heavy Industries, covers all seven models in Ola's S1 Gen 3 scooter portfolio. This latest development means that both Ola's Gen 2 and Gen 3 scooter ranges are now PLI-certified.

Impact on Profitability

The PLI certification is set to have a substantial impact on Ola Electric's bottom line. The company anticipates that this certification will contribute to improved profitability beginning from Q2 FY26. Under the PLI scheme, Ola Electric will be eligible for incentives ranging from 13.00% to 18.00% of the determined sales value (DSV) until 2028.

A spokesperson for Ola Electric Mobility emphasized the significance of this achievement, stating, "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."

Gen 3 Portfolio

The Gen 3 portfolio, which represents the majority of Ola Electric's current sales, includes:

• S1 Pro 3 kWh
• S1 Pro 4 kWh
• S1 Pro+ 4 kWh
• S1 X 2 kWh
• S1 X 3 kWh
• S1 X 4 kWh
• S1 X+ 4 kWh

Future Plans

In addition to the PLI certification news, Ola Electric has recently announced new models at its annual 'Sankalp' event. These include:

• S1 Pro Sport with 5.2 kWh and 4 kWh options
• S1 Pro+ 5.2 kWh
• Roadster X+ 9.1 kWh powered by the 4680 Bharat Cell

The introductory prices for these new models range from ₹1,49,999 to ₹1,89,999. Deliveries for the S1 Pro Sport are scheduled to begin in January 2026, while the S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh will start deliveries during the upcoming Navratri festival.

As Ola Electric continues to expand its product lineup and strengthen its financial position through initiatives like the PLI certification, the company appears well-positioned to capitalize on the growing demand for electric vehicles in India.

Ola Electric Mobility Ltd. has experienced significant market activity and corporate developments, as revealed by recent stock movements and company announcements.

Stock Performance and Investor Interest

The electric vehicle manufacturer's stock has shown remarkable volatility over a three-day period:

• Wednesday: Surged by 18.70%
• Following day: Declined by 8.30%
• Subsequent day: Declined by 3.30%

Despite this rollercoaster ride, investor interest appears to be growing, as evidenced by an increase in the average delivery percentage from 18.25% to 25.45%.

The company's market capitalization fluctuated between Rs 20,814.00 crore and Rs 23,470.00 crore during this period, reflecting the intense market activity. However, analysts note that long-term technical indicators remain weak, suggesting that meaningful investor conviction may only emerge if the stock crosses its 52-week high.

Product and Financial Developments

Ola Electric has made strides in both product development and financial performance:

• Launched a new bike model, expanding its product line
• Transitioned to EBITDA positive territory
• Developed in-house battery manufacturing plans

The new battery system boasts:

• 15-year life span
• Ability to charge 80% in 15 minutes
• Reduced reliance on rare earth metals

Recent earnings reports have shown reduced losses compared to previous quarters following the company's listing, potentially contributing to renewed investor interest.

Corporate Governance and Future Outlook

In its recent Annual General Meeting (AGM) held on August 22, 2025, Ola Electric Mobility Ltd. addressed several important corporate matters:

• Appointed M/s. BMP & Co. LLP as Secretarial Auditors for a five-year term
• Re-appointed Mr. Krishnamurthy Venugopala Tenneti as a Non-Executive Director
• Approved a special resolution regarding:
  • Variation in the utilization of Initial Public Offering (IPO) proceeds
  • Extension of the time limit for IPO proceeds use

As Ola Electric continues to navigate the competitive electric vehicle market, these corporate decisions and financial improvements may play crucial roles in shaping investor perceptions and the company's future trajectory.