Ola S1 X 2kWh Scooter Receives PLI Certification

The sixth product in Ola Electric's lineup to reach this milestone is the S1 X 2kWh scooter, which has been awarded the coveted Production Linked Incentive (PLI) accreditation. Ola's dedication to domestic production and its compatibility with India's electric vehicle (EV) ambition are highlighted by this certification. The certification, which was bestowed by the Automotive Research Association of India (ARAI), certifies that Ola's scooters satisfy the rigorous localization standards established by the Ministry of Heavy Industries. 

Also Read: Impact of the PLI Scheme on India’s Auto Sector

Adherence to Localisation Standards

Ola Electric's S1 X 2kWh scooter is guaranteed to meet the minimum localization requirement of 50% thanks to the PLI certification, which is a guideline created by the government to encourage domestic manufacture. By obtaining this certification, Ola strengthens its commitment to increasing domestic production and complying with strict laws and regulations, strengthening its position in the EV market.

Eligibility for Government Incentives

As a result of receiving the PLI certification, Ola Electric is now eligible for government incentives ranging from 13% to 18% of the determined sales value (DSV) of its products. These incentives will be granted for up to five financial years, starting from Fiscal Year 2024. The company's previously certified scooters include the S1 Pro, S1 Air, S1 X 3kWh, and S1 X 4kWh, all of which are eligible for similar incentives.

PLI Scheme for Advanced Chemistry Cell (ACC) Battery Storage

Ola Electric received a 20GWh capacity under the PLI plan for Advanced Chemistry Cell (ACC) Battery storage in March 2022 in addition to its certifications for scooters. There would be incentives for this for five years after Ola's Gigafactory in Krishnagiri, Tamil Nadu, is put into operation. This program is a step closer to the company's objectives of growing its presence in the electric vehicle market and improving local manufacturing.

Company's Commitment to India's EV Vision

"The S1 X 2kWh is the fifth product in our portfolio to receive PLI Certification," an Ola Electric Mobility Limited official said in reference to the most recent certification. This accomplishment demonstrates our dedication to promoting India's EV goals and is a tribute to our ability to produce goods through vertical integration. The government's Auto PLI Scheme has changed the game by pressuring manufacturers to develop domestic output, fortify local supply chains, and realize economies of scale."

This success confirms Ola Electric's growing impact on the EV ecosystem in India as the company continues to innovate and increasing its market share.