Ola Electric shares rise 5% after PLI nod for Gen 3 scooters; profitability outlook improves

Shares of Ola Electric climbed as much as 5 per cent on Tuesday, hitting an intra-day high of Rs 51.10 on the BSE, after the company announced that its Gen 3 electric scooter portfolio had received Production Linked Incentive (PLI) certification. As of 10:37 AM, the stock was trading 3.48 per cent higher at Rs 50.28, even as the broader BSE Sensex declined 0.76 per cent to 81,012.07.

Ola Electric's market capitalisation stood at Rs 22,190.89 crore, with the stock trading well below its 52-week high of Rs 133.02, but comfortably above its 52-week low of Rs 39.58.

PLI Certification Boosts Sentiment

The rally followed the company’s announcement that it had secured PLI certification for all seven models under its Gen 3 scooter portfolio. The certification was granted by the Automotive Research Association of India (ARAI) under the Ministry of Heavy Industries, Government of India.

With this, both the Gen 2 and Gen 3 line-ups are now PLI-certified — a move expected to strengthen margins and improve profitability beginning Q2 FY26.

“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,” said a spokesperson for Ola Electric Mobility.

Incentives Valid Until 2028

The certification makes Ola Electric eligible for incentives ranging from 13 per cent to 18 per cent of the determined sales value (DSV) until 2028, the company noted.

The Gen 3 portfolio includes:

S1 Pro 3 kWh

S1 Pro 4 kWh

S1 Pro+ 4 kWh

S1 X 2 kWh

S1 X 3 kWh

S1 X 4 kWh

S1 X+ 4 kWh

These models account for the majority of Ola Electric’s current sales, making the certification a meaningful development for the company’s bottom line.

New Models and Product Roadmap

During its annual ‘Sankalp’ event, Ola Electric also announced several new models powered by its in-house developed 4680 Bharat Cell, including:

S1 Pro Sport (5.2 kWh and 4 kWh) – priced at Rs 1,49,999 and Rs 1,69,999

S1 Pro+ 5.2 kWh – priced at Rs 1,69,999

Roadster X+ 9.1 kWh – priced at Rs 1,89,999

Deliveries for the S1 Pro Sport will begin in January 2026, while the S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh are set to launch this Navratri.