Why Are Ola Electric Shares Rising Today? Bhavish Aggarwal’s EV Maker Drops BIG Update On Gen 3 Scooter

Ola Electric Share Price Today: Ola Electric Mobility Limited shares rallied on Tuesday, hours after Bhavish Aggarwal's electric vehicle manufacturer shared an update related to its Gen 3 scooter portfolio.

Ola Electric shares were trading 4.86% higher at Rs 50.95 per share on BSE with a market capitalisation of Rs 22,473.18 crore. Ola Electric shares had touched an intraday high mark of Rs 51.80 per share and an intraday low mark of Rs 47.81 per share.

Why Are Ola Electric Shares Rising Today?

Ola Electric Mobility on Tuesday announced that it has received Certification for Compliance with the eligibility assessment requirements under the Production Linked Incentive (PLI) scheme for the automobile and auto components sector for its Gen 3 scooter portfolio.

The PLI certification has been granted by the Automotive Research Association of India (ARAI) under the aegis of the Ministry of Heavy Industries. Now, all the seven Ola S1 Gen 3 scooters have the PLI certification.

Ola Electric's Gen 3 Scooters Receive PLI Certification: What Does It Mean for Company?

After the recent development, Ola Electrc's Gen2 and Gen 3 scooter portfolio now stands as PLI Certified. PLI is a government initiative to offer companies financial incentives for achieving incremental sales from manufacturing products domestically. The PLI certification is granted if companies achieve certain manufacturing and sales targets within specific sectors like electronics, textiles, automobiles, etc.

"The PLI certification makes Ola Electric eligible for incentives ranging from 13% to 18% of the determined sales value (DSV) until 2028," added the company in its BSE filing.

The Gen 3 portfolio comprising of S1 Pro 3 kWh, S1 Pro 4 kWh, S1 Pro+ 4 kWh, S1 X 2 kWh, S1 X 3 kWh, S1 X 4 kWh and S1 X+ 4 kWh, represents the majority of the company's current sales. The PLI Certificiation to Gen 3 Portfolio would significantly boost the profitability of Ola Electric Mobility in the second quarter of FY26, stated the company in its press release.

"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. With our auto business targeted to turn EBITDA positive, the certification acts as a strong catalyst to achieve that goal while ensuring our customers continue to get the best-in-class EVs at highly competitive prices," stated , Ola Electric Mobility Limited spokesperson.

Ola Electric Share Price Trend

Ola Electric Mobilit shares opened at Rs 48.54 per share. The stock had touched a 52-week high mark of Rs 133.02 on 26 August,2024 and a 52-week low mark of Rs 39.58 on 14 July 2025. Its share price valuation has declined 40.95% since the beginning of the year 2025.

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