Ola Electric has secured compliance certification under the Production Linked Incentive (PLI) scheme for automobile and auto components for its Gen 3 scooter lineup.

Granted by the Automotive Research Association of India (ARAI), operating under the aegis of the Ministry of Heavy Industries, the certification is valid for all seven models of Ola S1 Gen 3 electric scooters.

With the certification in place, the electric two-wheeler manufacturer is eligible for 13 percent to 18 percent of the determined sales value. With this, Ola Electric's both Gen 2 and Gen 3 scooter portfolios now stand PLI-certified.

It is worth noting that the Gen 3 portfolio comprises the following models: 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.Addressing the development, Ola Electric Mobility Limited's spokesperson said, "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. 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."

Source:Ndtv