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Ola Electric Surges 33% as PLI Certification Boosts Outlook
Surpassing 1 million cumulative registrations, the EV maker sees demand recover. New government incentives for the Roadster X+ signal a stronger growth path.
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Ola Electric's stock climbed over 7% on Monday, extending a remarkable 33% gain over the past three trading sessions. The rally is fueled by a confluence of positive developments, including robust sales figures for March, the recent PLI certification for its Roadster X+ motorcycle, and enhancements to its service operations.
The company reported processing more than 1,000 daily orders last month and surpassed 1 million cumulative vehicle registrations. These metrics indicate a significant recovery in demand and operational execution. The PLI (Production Linked Incentive) certification for the Roadster X+ specifically validates the model's eligibility for government incentives, potentially boosting its cost competitiveness and market appeal.
Improved service infrastructure has also played a key role, addressing a previous investor concern and contributing to renewed confidence in the EV maker's growth trajectory. The stock's sharp ascent reflects growing optimism about Ola Electric's position in India's expanding electric vehicle market.