Ola Electric has announced that its S1 X 2 kWh scooter has successfully received Certification for Compliance with the eligibility assessment requirements of the Production Linked Incentive (PLI) Scheme for automobiles and auto components.
This milestone brings the total number of Ola Electric products certified under the PLI scheme to five, spanning both premium and mass-market two-wheeler segments.
The S1 X 2 kWh scooter’s certification confirms that Ola Electric’s entire lineup of mass-market scooters meets the stringent 50% localization criteria set by the Ministry of Heavy Industries.
A spokesperson for Ola Electric stated that this certification marks the fifth product in their portfolio to gain PLI approval, showcasing their manufacturing capabilities and supporting India’s electric vehicle vision. The Auto PLI Scheme has been instrumental in enhancing local supply chains and domestic manufacturing.
The Automotive Research Association of India (ARAI) granted the certification after thorough testing of the product and component localisation checks. Under the scheme, Ola Electric is eligible for incentives ranging from 13 per cent to 18 per cent of the determined sales value for up to five consecutive financial years starting from Fiscal 2024.
Previously, the company received PLI certificates for its S1 Pro, S1 Air, S1 X 3 kWh, and S1 X 4 kWh models. Additionally, in March 2022, Ola Electric was awarded a 20GWh capacity under the PLI scheme for Advanced Chemistry Cell (ACC) battery storage, eligible for incentives over five years following the commissioning of its Gigafactory in Krishnagiri, Tamil Nadu.
