Ola S1 Pro Gen 2 gets PLI certificate for localization
Ola Electric's S1 Pro Gen 2 scooter has been awarded a Production Linked Incentive (PLI) certificate, thanks to achieving over 50% localization. This makes it the second product in Ola's lineup to receive the certificate, following the S1 Air model. The PLI scheme's goal is to encourage Indian manufacturing of advanced automotive technology (AAT) products and draw investments into the automotive manufacturing value chain.
Over 51% domestic value addition achieved
The S1 Pro Gen 2 met PLI requirements by reaching a 51.84% domestic value addition (DVA). Ola Electric produces AAT products, such as electric motors and battery packs, at its one-million-capacity facility in Tamil Nadu. However, components like the Battery Management System (BMS), LCD, and TFT dashboards seen on Ola e-scooters are imported from Foxconn, a company based in Taiwan.
Ola Electric's plans and milestones
In August 2023, Ola Electric launched the S1 Pro Gen 2 besides the more budget-friendly S1 X, garnering over 75,000 bookings within two weeks. The company is currently working on going public by listing itself on the stock market, and is considering building another battery cell manufacturing plant in Tamil Nadu. Ola S1's discounts have been extended until March 31.
What about its pricing?
In India, the Ola S1 Pro Gen 2 electric scooter carries a price tag of Rs. 1.3 lakh (ex-showroom, Delhi). Here, it goes against rivals such as the Ather 450X, Vida V1 Pro, TVS iQube, and Bajaj Chetak.