Ola Electric Share Price: EV Maker Stock Soars 13% In One Week - Know Reason

Ola Electric Mobility Limited shares extended their upward momentum this week, rising on Tuesday after the company announced that its Gen 3 scooter portfolio has received Production Linked Incentive (PLI) certification from the Automotive Research Association of India (ARAI).

The stock climbed 4.86% to Rs 50.95 on the BSE, giving the company a market capitalisation of Rs 22,473.18 crore. It touched an intraday high of Rs 51.80 and a low of Rs 47.81. Over the past week, the counter has rallied 13.34%, reflecting renewed investor confidence in the electric vehicle (EV) maker’s long-term growth prospects.

The certification, granted under the Ministry of Heavy Industries’ PLI scheme for the automobile and auto component sector, makes Ola Electric eligible for incentives ranging from 13% to 18% of its determined sales value until 2028. With this, both the company’s Gen 2 and Gen 3 scooters now stand fully PLI-certified.

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“The 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 sustainable growth,” the company said in its filing, adding that it expects the move to significantly boost profitability in the second quarter of FY26.

The Gen 3 portfolio includes seven models — 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 — which together represent the majority of Ola Electric’s current sales. Analysts believe that the PLI benefits will enhance the company’s ability to achieve its target of turning EBITDA positive in the near term, while also strengthening its competitive position in India’s crowded EV market.

Despite ongoing challenges such as rising competition and cost pressures, the stock’s rally underscores growing investor conviction in Ola Electric’s ability to scale up and capture a larger share of the domestic EV market.