Ola Electric Mobility shares extended their gains for a second consecutive day, rising 5.3% on Tuesday to hit a high of ₹51.15, following the company’s announcement of receiving PLI certification for its Gen 3 scooter lineup. In an exchange filing on Monday post-market hours, Ola Electric confirmed it had qualified under the government’s Production Linked Incentive (PLI) scheme for the auto sector. This certification covers all seven models in its Gen 3 portfolio, which form the majority of its sales. The PLI benefits range from 13% to 18% of the determined sales value (DSV) until 2028, enhancing Ola’s cost efficiency and margins, and aiding its goal to achieve EBITDA profitability.
Both Gen 2 and Gen 3 scooters are now PLI-certified. At its recent ‘Sankalp’ event, the company launched new models, including the S1 Pro Sport (5.2 kWh and 4 kWh), S1 Pro+ (5.2 kWh), and Roadster X+ (9.1 kWh), with deliveries beginning from Navratri and January 2026.
Ola Electric shares have surged 23% this month, eyeing their best monthly gain since listing in August 2024. Despite the rally, the stock is still 33% below its IPO price and 62% off its peak.
+ There are no comments
Add yours