Ola Electric's S1 X 2 kWh Scooter Secures PLI Certification

Ola Electric has announced that its most affordable electric scooter, the S1 X 2kWh, has received certification for compliance under the Production Linked Incentive (PLI) Scheme for automobiles and auto components. This marks the fifth Ola Electric product to be certified under the PLI scheme, further expanding the company’s portfolio in both premium and mass-market segments.

With the S1 X 2kWh achieving PLI certification, the entire range of Ola’s mass-market scooters has met the stringent 50% localisation requirement mandated by the Ministry of Heavy Industries. This milestone demonstrates Ola's commitment to boosting domestic manufacturing and promoting India’s electric vehicle (EV) industry.

A spokesperson for Ola Electric Mobility Limited stated, “The S1 X 2 kWh is our fifth product to receive PLI certification, reaffirming our vertically integrated manufacturing capabilities. The government’s Auto PLI Scheme has been pivotal in encouraging manufacturers to strengthen local supply chains, bolster domestic production, and achieve economies of scale.”

The certification was granted by the Automotive Research Association of India (ARAI) after rigorous testing and checks on component localisation. Under the PLI scheme, Ola Electric is eligible for incentives ranging from 13% to 18% of the determined sales value (DSV) of its products for up to five consecutive financial years, beginning in FY 2024. Previous products receiving PLI certification include the S1 Pro, S1 Air, S1 X 3kWh, and S1 X 4kWh models.

Additionally, Ola Electric was awarded a 20GWh capacity under the government's PLI scheme for Advanced Chemistry Cell (ACC) battery storage in March 2022. The company will be eligible for further incentives over a five-year period following the commissioning of its Gigafactory in Krishnagiri, Tamil Nadu.