Ola Electric Share Price Jumps 20% in a Week on PLI Certification and EV Policy Buzz

Market Performance

The stock market today saw Ola Electric Mobility grabbing the spotlight. Shares of the EV maker continued their upward momentum, climbing as much as 5% on Friday to ₹57.50. This strong rally pushed its weekly gains to nearly 20%, making it one of the most talked-about stocks in the auto and EV segment this week.

Investors have been quick to respond to both government-linked triggers and company-specific developments, setting the stage for Ola Electric’s share price to remain in focus in the days ahead.

Key Drivers Behind the Rally

The surge in Ola Electric’s share price wasn’t accidental—it was powered by a mix of regulatory approvals and policy sentiment.

• PLI Certification for Gen 3 Scooters
  On August 26, Ola Electric disclosed in an exchange filing that it had received compliance certification under the Production Linked Incentive (PLI) scheme. The certification from the Automotive Research Association of India , under the Ministry of Heavy Industries, covers Ola’s entire S1 Gen 3 scooter range of seven models.
• Which Scooters Are Included?
  • S1 Pro 3 kWh
  • S1 Pro 4 kWh
  • S1 Pro+ 4 kWh
  • S1 X 2 kWh
  • S1 X 3 kWh
  • S1 X 4 kWh
  • S1 X+ 4 kWh

With this, both Gen 2 and Gen 3 scooters from Ola Electric now fall under the PLI scheme. Importantly, the Gen 3 range already contributes a majority of Ola’s sales, making this approval a meaningful milestone.

• Policy Sentiments Boosting the Stock
  Market optimism was further lifted by buzz around a potential GST reduction on entry-level EVs and two-wheelers. Reports also indicated that NITI Aayog is in discussions with top two-wheeler makers to accelerate electrification in the motorcycle segment.

Company Updates

Alongside these policy and compliance tailwinds, Ola Electric’s long-term ambitions remain clear.

• Founder Bhavish Aggarwal recently reiterated the company’s vision of capturing 25–30% share of India’s electric two-wheeler market.
• The company’s vertical integration strategy and new product launches are seen as key levers to sustain profitability as volumes grow.
• In Aggarwal’s words: “Our mojo is still there,” underscoring confidence in balancing growth with margins.

Meanwhile, government estimates project that electric scooters could make up 80% of sales by 2030. Motorcycles, however, may only see around 10% penetration, leaving overall two-wheeler electrification at about 36%. Bridging this gap will likely involve scaling up production, reducing costs, battery swapping, and flexible financing models.

Stock Market Today: Ola Electric’s Position

At 10:20 am on Friday, Ola Electric shares were trading at ₹56.10, up 2.3% from the previous close on the NSE.

This week’s surge highlights how quickly policy actions and certifications can influence investor sentiment, especially in a high-growth sector like electric vehicles.

Summary

• Ola Electric share price surged 20% this week.
• Rally driven by PLI certification for Gen 3 scooters and policy buzz on GST cuts.
• Seven scooters from the S1 Gen 3 line-up are now PLI-certified.
• Founder Bhavish Aggarwal targets 25–30% market share in electric two-wheelers.
• Government expects electric scooters to dominate by 2030, though motorcycles lag behind.
• Stock traded at ₹56.1, up 2.3%, as of mid-morning trade.