Ola Electric Limited has achieved Production Linked Incentive (PLI) certification for its electric bike, the Roadster X+ 4.5 kWh. This certification, granted by the Global Automotive Research Centre (GARC), verifies that the model meets the minimum domestic value addition requirements, qualifying all units for incentives under the PLI-Auto scheme.
This development is part of Ola Electric's broader strategy to revitalize sales following a challenging period. Recently, the company significantly reduced the price of its flagship Roadster X+ 9.1 kWh model, dropping it by over 31%, from ₹1.9 lakh to ₹1.3 lakh. The price cut is attributed to increased production at its Gigafactory and improved cost efficiencies.
Due to high demand, the Roadster X+ 9.1 kWh will now be available through limited purchase windows rather than open sales. The first of these purchase windows is set to open tomorrow, offering vehicles in limited quantities and time-bound slots.
Ola Electric has seen a remarkable increase in its electric two-wheeler (E2W) registrations, with a 139% rise in March 2026, totaling 9,496 units compared to 3,973 in February. This surge has helped the company secure over 5% market share, placing it fifth in the segment.
To further support its growth and reduce costs, Ola Electric is expanding the capacity of its Gigafactory from an initial target of 5 GWh to 6 GWh. This facility is responsible for manufacturing the 4680 Bharat Cell, which powers the Gen 3 range of e-scooters, including the S1 Pro+ and Gen 3 S1 X+.
Despite facing financial challenges, including a 55% year-on-year drop in operating revenue to ₹470 crore in Q3 FY26, Ola Electric has managed to narrow its net losses by 14% to ₹487 crore. The company also reported negative operating cash flows of ₹866 crore over the first nine months of FY26.
In response to these financial strains, Ola Electric has redirected funds from its IPO proceeds, reallocating ₹475 crore from research and development to debt repayment and ₹100 crore towards organic growth initiatives.
Investor sentiment has improved following the recent price cuts and production scaling, with Ola Electric shares rising over 9.33% in intraday trading, closing at ₹28.35 on the Bombay Stock Exchange.
