Ola Electric Share Price Surges 55% in a Month as PLI Scheme Boosts Outlook

Ola Electric has witnessed a sharp rebound in its stock, climbing 55% over the past month. The rally comes on the back of its approval under the government’s Production Linked Incentive (PLI) scheme, which is seen as a key structural milestone for the EV maker.

The Automotive Research Association of India (ARAI) has certified Ola under the Ministry of Heavy Industries’ PLI program for its Gen 3 S1 scooter lineup. With this approval, Ola is eligible for incentives of 13%–18% of sales value until 2028, covering all seven Gen 3 S1 models that together contribute more than half of the company’s sales.

Ola’s Financial Performance Remains Under Watch

While the PLI approval provides cost efficiency and margin support, Ola Electric’s financials show ongoing challenges. In the June quarter (Q1 FY26), the company reported:

• Net loss: ₹428 crore (higher YoY)
• Revenue: ₹828 crore (down 50% YoY)
• Gross margin: 25.6% (improved from earlier levels)

Management highlighted that the PLI certification would aid cost structures, while also reiterating focus on capital discipline. Recently, shareholders approved the reallocation of IPO proceeds and an extension of deployment timelines.

Ola Electric Share Price Performance

Ola Electric Mobility Limited shares were among the top 10 gainers on September 3, 2025 at 2:30 PM on the NSE.

• Share price: ₹68.11 (+9.93%)
• Previous close: ₹61.96
• Day’s range: High ₹68.70, Low ₹61.15
• VWAP: ₹65.07

The stock’s momentum reflects investor optimism over long-term growth prospects driven by government incentives, even as near-term losses weigh on fundamentals.

Read More: Upcoming Dividends in September 2025: NTPC, ONGC, Patanjali Foods, and More.

Conclusion

Ola Electric’s approval under the PLI scheme marks an important milestone, offering meaningful cost support and boosting investor sentiment. However, sustained profitability will depend on how effectively the company manages execution risks, narrows losses, and capitalises on demand growth in India’s evolving EV sector.

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