Engineer with PLI certification for Ola Electric Roadster X+ electric bike.
Ola Electric Limited has secured Production Linked Incentive (PLI) certification for its Roadster X+ 4.5 kWh electric bike. The certification, granted by the global automotive research centre (GARC), confirms that the Roadster X+ meets the domestic value addition (DVA) requirements, making it eligible for incentives under the PLI-Auto scheme.
This development occurs as Ola Electric strategically aims to boost sales following a period of slowdown. Recently, the company reduced the price of its Roadster X+ 9.1 kWh model, powered by the 4680 Bharat Cell, by over 31%, from ₹1.9 Lakh to ₹1.3 Lakh. The company cited increased cell production at its Gigafactory and cost efficiencies from vertical integration as reasons for the price reduction.
The Roadster X+ 9.1 kWh will now be sold through limited purchase windows due to high demand. Ola Electric’s E2W registrations saw a 139% increase in March 2026, reaching 9,496 units, giving it over 5% market share and the fifth position in the segment.
To support growth and cost reduction, Ola Electric is scaling its Gigafactory capacity to 6 GWh. The facility manufactures the 4680 Bharat Cell, powering the Gen 3 range of e-scooters, including the S1 Pro+ and Gen 3 S1 X+.
Financially, Ola Electric’s operating revenue fell 55% YoY to ₹470 Cr in Q3 FY26, while net losses narrowed 14% to ₹487 Cr. The company reported negative operating cash flows of ₹866 Cr over the first nine months of FY26 due to losses and sales. Ola has reallocated funds from its IPO proceeds, diverting ₹475 Cr from research and development to repay debt and ₹100 Cr toward organic growth initiatives.
Following these developments, Ola Electric shares jumped over 9.33% in intraday trading, closing at ₹28.35 on BSE.
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