Ola S1 X 3 kWh and 4 kWh electric scooters get PLI certification
Ola Electric has received the certification of compliance for the S1 X 3 kWh and S1 X 4 kWh electric scooters under the Production Linked Incentive (PLI) Scheme. The Ola S1 X is the brand's most accessible electric scooter and has passed the eligibility assessment requirements as per the PLI scheme for automobile and auto components. Both the Ola S1 X variants meet the minimum localisation criteria of 50 per cent, as mandated by the Ministry of Heavy Industries (MHI).
Ola S1 X Certification of Compliance under PLI Scheme
With the S1 X 3 & 4 kWh trims, Ola Electric has become the only electric two-wheeler maker to receive the certification for compliance under PLI for four offerings including the S1 Air and S1 Pro. The manufacturer received the certification for the Ola S1 Air in January this year at the Auto PLI Conclave.
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Speaking about the compliance certification, an Ola Electric Mobility Limited spokesperson said, “S1 X 3 kWh and S1 X 4 kWh together contribute to almost half of our revenues, and with the PLI now in place, we will be able to further improve our bottom line. Receiving the PLI certification for the premium and mass-market products affirms our vertically integrated manufacturing strength marking a significant achievement in advancing India's EV vision. The government's ambitious Auto PLI Scheme is poised to enhance local supply chains, foster domestic manufacturing, and assist companies in achieving economies of scale."
Ola S1 X: Eligibility for Certification of Compliance
The certification is granted by The Automotive Research Association of India (ARAI) after testing the product and checking on the localisation of components. This helps the company remain eligible for incentives for up to five consecutive financial years commencing from FY2024. Ola Electric says the incentive would range between 13 per cent and 18 per cent of the “determined sales value" (DSV) of the products.
Ola Electric is building its Gigafactory in Krishnagiri, Tamil Nadu, to manufacture battery cells and packs. The company has been awarded 20 GWh capacity by the government under the PLI scheme for Advanced Chemistry Cell (ACC) Battery storage in March 2022. It will be eligible to receive incentives under the Cell PLI scheme over a five-year period from the date of commissioning of the Gigafactory.
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