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IPO-bound Ola Electric gets PLI certification for its second scooter: Report

Livemint · 1y

Ola Electric, the Indian electric vehicle manufacturer, has received the Domestic Value Addition (DVA) certification for its S1 Pro scooter. This is the second DVA certification for Ola Electric, making them eligible for various incentives under the Production-Linked Incentive (PLI) scheme for the next 5 years. Ola Electric is also planning an IPO to raise ₹5,500 crore. The funds will be used for expanding manufacturing capacity and research and development.