The share price of Ola Electric Mobility jumped as much as 5% today, August 26, after the company announced that its Gen 3 scooter portfolio has received PLI certification.
As per the regulatory filing, the certification, granted to all seven S1 Gen 3 models. This covers the majority of Ola Electric’s sales, forming around 56% of the company’s overall volumes, and opens the door to production-linked incentives ranging from 13% to 18% of sales value until 2028.
Ola Electric: PLI certification and profitability
In an exchange filing, Ola Electric said, “Ola Electric’s Gen 2 and Gen 3 scooter portfolio now stands PLI-certified. The Gen 3 portfolio comprising of 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, represents the majority of the company’s current sales. As a result, this certification is set to significantly enhance Ola Electric’s profitability from Q2 FY26 onwards.”
The company also pointed out that the PLI certification will act as a catalyst in its effort to turn the auto business EBITDA-positive. “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,” said an Ola Electric spokesperson.
New launches and product expansion
At its annual ‘Sankalp’ event, Ola Electric also announced new models including the S1 Pro Sport with 5.2 kWh and 4 kWh, S1 Pro+ 5.2 kWh, and the Roadster X+ 9.1 kWh powered by the 4680 Bharat Cell.
Deliveries for the S1 Pro Sport are scheduled for January 2026, while the S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh will begin deliveries this Navratri, marking an expansion of the company’s portfolio in both mid-market and premium segments.
Ola Electric stock performance
Ola Electric’s share price has been volatile over the past year. In the last five days, the stock gained 7%, while it rose 23% over the past month. However, in the last six months, the stock fell 11%, and year-to-date, it has dropped 59%, delivering a negative return of 41% in 2025.
The company currently has a market capitalisation of Rs 21,140 crore, with a 52-week high of Rs 132.70 and a low of Rs 39.60.