-Production Linked Incentive (PLI) awarded for achieving over 50 per cent localisation
-PLIs aim to boost local component manufacturing
-Ola S1 Air had previously received this certificate
Ola has announced that its S1 Pro Gen 2 electric scooter has been awarded the Production Linked Incentive (PLI) certificate by the International Center for Automotive Technology or ICAT. The certificate was awarded on account of Ola achieving over 50 per cent localisation in its S1 Pro Gen 2 electric scooter. It is the second Ola electric scooter to receive this certification, the first being the S1 Air.
The PLI scheme has been rolled out to boost local manufacturing of components that are required in an electric vehicle. This reduces dependence on importing components, helps the local economy grow and also creates more job opportunities. Not to mention the drop in the cost of components that go into making an EV which will help it remain cost competitive.
The PLI certification makes Ola eligible to receive incentives for a duration of five years, beginning from FY24. The range of the incentives that Ola will receive is between 13 to 18 per cent of the DSV or determined sales value of the scooter.
The Ola S1 Pro Gen 2 is the company’s flagship scooter and that makes it the quickest and the best equipped model in the S1 range. It has a 4kWh battery with a claimed range of 195km and it can hit a top speed of 120kmph.
Ola Electric has seen an uptick in sales in recent months, recording its highest ever monthly registrations in February 2024. The company has also announced an extension of its discount schemes till the end of March. This should help Ola maintain its current sales momentum.
