The claim is supported by eligible sales of approximately Rs 3,000 crore for FY25, as per previous ET reports, and is calculated at an incentive rate of 13–14%.
The incentive claim aligns with Ola Electric’s continued compliance with localisation and regulatory guidelines under the PLI framework. The funds are expected to enhance the company’s liquidity and positively contribute to its financial performance in the coming quarters, according to sources familiar with the development.
Ola Electric was the only two-wheeler Original Equipment Manufacturer (OEM) to receive the PLI incentive last year, and this filing marks its second consecutive year of qualifying under the scheme.
The company has also emerged as the top achiever in PLI-eligible sales in the two-wheeler category for two straight years, further solidifying its position in India’s EV manufacturing ecosystem.
In addition, Ola Electric recently announced that it had received PLI eligibility compliance certification for its Gen 3 scooter portfolio, which includes all Gen 3 scooters in the S1 line-up.This certification covers the majority of Ola Electric’s current sales and is expected to boost the company’s profitability from Q2 FY26 onwards.
Ola Electric share price performance
Over the past one year, shares of Ola Electric have declined sharply by 45.73%, while the year-to-date (YTD) performance shows a drop of 29.76%, indicating a challenging broader trend.
However, in the short to mid term, the stock has seen a noticeable recovery — it is up 19.85% over the last six months, 28.95% in the past three months, and has delivered an impressive 46.59% gain in just the last month.
On Monday, Ola Electric shares closed 2.85% higher at Rs 60.57 on the BSE.
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