Ola Electric, a frontrunner in the Indian electric vehicle (EV) industry has achieved another milestone with its S1 Pro Gen 2 electric scooter receiving the Production Linked Incentive (PLI) certificate. This recognition is for achieving over 50 percent localization making it the second product in the company's lineup to do so after the S1 Air e-scooter.
Embracing Local Manufacturing
The PLI scheme, introduced by the Indian government aims to promote local manufacturing of advanced automotive technology (AAT) products and attract investments in the automotive manufacturing value chain. By meeting the PLI norms with a 51.84 percent Domestic Value Addition (DVA) in the S1 Pro Gen 2, Ola Electric is not only supporting this initiative but also contributing to the growth of the local EV ecosystem.
Production Capabilities and Component Sourcing
Ola Electric's commitment to local manufacturing is evident in its state-of-the-art plant in Tamil Nadu, which can produce one million e-scooters. While the company manufactures key AAT products like electric motors and battery packs in-house, it sources components such as the Battery Management System (BMS) and the LCD/TFT dash from Foxconn, a leading electronics manufacturer based in Taiwan. This strategic sourcing ensures that Ola's e-scooters are equipped with high-quality, reliable components.
Expanding Product Lineup and Future Endeavors
In August 2023, Ola Electric expanded its product lineup by introducing the S1 Pro Gen 2 alongside the more affordable S1 X model. The launch was met with great enthusiasm as evidenced by the impressive number of over 75,000 bookings within just two weeks. Ola's commitment to innovation and customer satisfaction is clear in its proactive approach to product development.
Looking ahead, Ola Electric is not only in the process of going public and listing itself on the Stock Exchange but also considering establishing another local battery cell manufacturing plant in Tamil Nadu. This move would further solidify its commitment to local production and sustainability aligning with the global shift towards cleaner and more environmentally friendly mobility solutions.
Ola Electric's commitment to sustainable development, high-quality local manufacturing, and sustainability is demonstrated by the S1 Pro Gen 2 PLI certificate it received. The company is well-positioned to have a big impact on how electric mobility develops in India and abroad as long as it keeps adding new products to its list and investing in local production capacity.