Ola Electric Surges as PLI Boost Fuels Growth

Ola Electric’s shares rose 4.4% to ₹143.80, driven by government Production Linked Incentive (PLI) certifications for its S1X 3 kWh and S1X 4 kWh scooters. These models, which account for 50% of the company’s revenue, reflect Ola’s growing foothold in the electric vehicle market. Since its IPO at ₹76, the stock has gained nearly 90%. With rising competition and plans for market expansion, Ola remains a key player in India’s evolving EV landscape.