Ola Electric Submits ₹400 Crore PLI Claim, Solidifies EV Leadership

New Delhi, September 15, 2025 – Ola Electric has submitted a claim of over ₹400 crore under the Production-Linked Incentive (PLI) scheme of the government, demonstrating its strong adherence to localisation regulations and regulatory requirements. This is a critical step as the claim reaffirms Ola’s leadership in the electric mobility segment consistently.

Stock Performance

During today’s trading session, Ola Electric Mobility’s share price moved between ₹57.50 and ₹60.02, before closing at ₹60.51 (2.73% higher than the previous day’s closing price). Over the last 52 weeks, the stock has recorded a low of ₹39.60 and a high of ₹123.90. Due to numerous positive updates, the stock has surged by more than 41.30% in the past 30 days.

Incentive Linked to Good Sales

The claim entitlement of the company is linked with qualifying sales of around ₹3,000 crore in FY25, which would yield an incentive of around 13–14%, or almost ₹400 crore. The payment will help improve Ola’s liquidity and contribute positively to its bottom line in subsequent quarters.

A Two-Wheeler OEM to Record PLI Benefit in the Earlier Year

Ola Electric was the sole two-wheeler original equipment manufacturer (OEM) to have used PLI incentives last year, a recognition that had made it the sole distinction holder in India’s EV segment. For this year as well, the company has retained its stand, emerging as the highest achiever in PLI-eligible sales in the two-wheeler segment for two consecutive years.

Certification of Gen 3 Scooters

Ola Electric has also recently been certified for compliance with PLI eligibility criteria for its Gen 3 scooters. The certification is for the company’s S1 product family, which still powers most of its volumes. This success also adds muscle to its credentials in the government incentive program.

Outlook for Growth

With certification in place and PLI benefits anticipated, Ola Electric is well placed to announce augmented profitability from Q2 FY26 onwards. The recent funding injection will add momentum to its growth plans and solidify leadership in India’s transition to sustainable mobility.

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