Updated March 5th, 2024 at 14:58 IST

Ola Electric secures DVA certificate under PLI Scheme for S1 Pro scooter

This certification, granted by the Ministry of Heavy Industries, highlights the S1 Pro's compliance with the stringent minimum localisation criteria of 50%.

Reported by: Business Desk
Ola Electric | Image:Ola Electric
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Ola Electric’s S1 Pro: Electric vehicle (EV) maker Ola Electric has received a Domestic Value Addition (DVA) certificate for its S1 Pro scooter under the Production Linked Incentive (PLI) Scheme. This certification, granted by the Ministry of Heavy Industries, highlights the S1 Pro's compliance with the stringent minimum localisation criteria of 50 per cent. Notably, Ola Electric is the first Indian two-wheeler and pure-play EV company to attain this certification.

This marks the second time Ola Electric has received the DVA certification, following its previous success with the S1 Air model at the Auto PLI Conclave held in January 2024. A spokesperson from Ola Electric highlighted the company's commitment to advancing India's EV vision and underlined the significance of the Auto PLI Scheme in promoting local supply chains and domestic manufacturing.

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The International Centre for Automotive Technology (ICAT) played a pivotal role as one of the nodal testing agencies responsible for granting the certification and ensuring adherence to localisation standards. Under the scheme, Ola Electric stands to benefit from incentives over five consecutive financial years, ranging between 13 per cent and 18 per cent of the determined sales value (DSV) of the products.

In addition to its achievements in the EV sector, Ola Electric has also secured 20GWh capacity under the government's PLI scheme for Advanced Chemistry Cell (ACC) Battery storage. This further underscores the company's commitment to sustainable technology and its eligibility for incentives under the Cell PLI scheme.

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Published March 5th, 2024 at 14:58 IST