Ola has received another PLI certificate for achieving over 50 percent localisation for its S1 Pro Gen 2 electric scooter. The first product to receive this certificate was the mid-tier S1 Air e-scooter.
- Ola S1 Pro achieved over 50 percent domestic value addition
- One million Ola e-scooters can be manufactured in Tamil Nadu plant
- BMS and displays sourced from Foxconn
The company met the PLI norms by achieving 51.84 percent domestic value addition (DVA) in the Ola S1 Pro Gen 2. The PLI scheme aims to promote local manufacturing of advanced automotive technology (AAT) products, attracting investments in the automotive manufacturing value chain.
Ola Electric manufactures AAT products, including electric motor and battery packs, at its one-million capacity plant in Tamil Nadu. However, components like Battery Management System (BMS) and the LCD, TFT dash seen on Ola e-scooters are sourced from Foxconn, a Taiwan-based company.
Ola Electric introduced the S1 Pro Gen 2 alongside the more affordable S1 X in August 2023. Going forward, the company also received over 75,000 bookings within a fortnight. Currently, the company is also in the process of going public, listing itself in the Stock Exchange and considering establishing another local battery cell manufacturing plant in Tamil Nadu.
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Ola S1 discounts extended till March 31