Ola Electric Mobility shares soar 7% as the firm secures PLI certification for Roadster X+ 4.5 kWh

In a regulatory filing on April 3, the Bengaluru-based firm said it has received the certification for compliance with the eligibility assessment requirements under the Production Linked Incentive (PLI) Scheme for its Roadster X+ 11 kW 4.5 kWh from the Global Automotive Research Centre (GARC) under the Production Linked Incentive Scheme for Automobile and Auto Components (PLI-Auto Scheme).

Ola Electric Mobility said the Roadster X+ 4.5 kWh has become the first motorcycle in its Roadster portfolio to receive PLI certification, marking a significant milestone in its expansion into the electric motorcycle segment.

The certification confirms a minimum Domestic Value Addition (DVA) compliance for Roadster X+ 4.5 kWh, and the model also became eligible for incentives under the PLI-Auto Scheme for all Roadster X+ 4.5 kWh units.

“The PLI certification for our Roadster X+ 4.5 kWh is a strong validation of our efforts towards deep localisation and building a truly indigenous EV ecosystem. With our Roadster lineup, we are making electric motorcycles accessible to a much wider set of customers while leading category creation in the electric motorcycle segment,” said the Ola Electric spokesperson.

The Bhavish Agarwal-led company recently announced a significant price reduction for its 4,680 Bharat Cell-powered Roadster X+ 9.1 kWh. As cell production has ramped up, cost efficiencies have improved materially, allowing Ola Electric to pass on these benefits directly to customers.

Ola Electric March sales numbers

Ola Electric’s registrations surged to 10,117 units in March (as per VAHAN), up from 3,973 units in February, translating to over 150% month-on-month (MoM) growth, signalling a sharp resurgence in demand momentum.

The company, in a statement, said that the market share also witnessed a V-shaped MoM recovery, with the company continuing to gain share through the month. This demand recovery is being driven by a structural transformation in service operations.

It further added that over 80% of its vehicles are now serviced on the same day, supported by improved parts availability, faster diagnostics, and tighter operational control across its network.

During March, Ola Electric also became the first EV brand in India to cross 1 million cumulative registrations (as per VAHAN data), marking a historic milestone for the company and a defining moment for India’s EV ecosystem.

Ola Electric share price

At 11:50 AM, Ola Electric Mobility shares were trading at ₹29.21 apiece on the National Stock Exchange, rising 3.07%.

Over a month’s time, the stock has gained nearly 21%, while it has tumbled 45% in the last six months. From the beginning of the year, Ola Electric Mobility has fallen 23%.

Shares of the firm had hit a 52-week high of ₹71.25 on September 4, 2025, and a 52-week low of ₹22.25 on March 16, 2026.

The bank has a total market capitalisation of ₹12,822.28 crore, according to data on the NSE.