India, Aug. 26 -- Ola Electric Mobility Ltd. on Tuesday said it has taken a "critical step towards profitability" for its automotive business, but didn't specify by when.

The pureplay electric two-wheeler maker has received "certification for compliance" to get production-linked incentives for its Gen 3 scooters, according to an exchange filing. With that, Ola Electric's entire scooter portfolio-Gen 2 and Gen 3-is PLI compliant. The certification makes the company eligible for incentives ranging from 13-18% of the determined sales value until 2028.

"Securing PLI certification for our Gen 3 scooters, which form the bulk of our sales, is a critical step towards profitability," an Ola Electric spokesperson said in the exchange filing. This...