Electric vehicle (EV) manufacturer Ola Electric has achieved a significant milestone with its flagship product, the S1 Pro scooter, receiving the prestigious domestic value addition (DVA) certification.
This certification is part of the production linked incentive (PLI) scheme for the automobile and auto component industry, and it recognises that the S1 Pro has met the stringent minimum localisation criteria of 50% set by the Ministry of Heavy Industries.
This achievement makes Ola Electric the only two-wheeler and pure-play EV manufacturer to receive the DVA certification for one or more products. The company had previously received the DVA certificate for the S1 Air at the Auto PLI Conclave held in January 2024.
A spokesperson for Ola Electric said, “Receiving the PLI certification for the second product affirms our vertically integrated manufacturing strength marking a significant achievement in advancing India’s EV vision. The government’s ambitious auto PLI scheme is poised to enhance local supply chains, foster domestic manufacturing, and assist companies in achieving economies of scale.”
The International Centre for Automotive Technology (ICAT) is one of the nodal testing agencies that grants the certification after thorough checks on the localisation standards of the components.
Under the scheme, Ola Electric is eligible for incentives for up to five consecutive financial years, starting from fiscal 2024. The incentive would range between 13-18% of the determined sales value (DSV) of the products.
In addition to this, Ola Electric was awarded a 20GWh capacity by the government under its PLI scheme for advanced chemistry cell (ACC) battery storage in March 2022.
The company is eligible to receive incentives under the cell PLI scheme over five years from the date of commissioning of the Ola gigafactory in Krishnagiri, Tamil Nadu.
Also Read: Ola Electric achieves record 35,000 registrations in February, marking a nearly 100% annual surge
