Ola Electric Hits 20% Upper Circuit After Venturing Into E-Bike Space

SUMMARY

The shares of Ola Electric were trading at INR 129.03 at 12:07 PM

On Thursday, Ola Electric unveiled its electric motorcycle portfolio, ‘The Roadster Series’, during its annual event

This move comes as several new-age mobility companies, including Ultraviolette, EMotorad, Motovolt, and Toutche Electric, enter the electric bike market

Shares of EV major Ola Electric surged nearly 20% to touch a 52-week high at INR 132.76 during the intraday trading on the BSE today (August 16) after it unveiled a portfolio of electric bikes across mass and premium segments.

The shares of Ola Electric were trading at INR 129.03 at 12:07 PM.

On Thursday (August 15), Ola Electric unveiled its electric motorcycle portfolio, ‘The Roadster Series’, during its annual event. The Bhavish Aggarwal-led startup unveiled three motorcycles under this portfolio – Roadster X, Roadster, and Roadster Pro.

Roadster will have a peak motor output of 13 kW and will come in 3.5 kWh, 4.5 kWh and 6 kWh battery variants. Its variants are priced between INR 1,04,999 and INR 1,39,999. It will have a top speed of 126 km/hour and a range of 248 kms.

Meanwhile, Roadster Pro will have a peak power output of 52 kW and 105 Nm torque, delivering a top speed of 194 km/hour and a range of 579 kms (for the 16 kWh variant). It will be available in two variants of 8kWh and 16 kWh, priced at INR 1,99,999 and INR 2,49,999, respectively.

Bookings have opened for all three models and their variants, but the Roadster X and Roadster will be the first to reach customers, with deliveries set to begin in Q4 FY25, according to Ola Electric. The Roadster Pro, however, will not be delivered until Q4 FY26.

Ola Electric has been developing a prototype electric bike and last August unveiled concept models for four electric motorcycles: Diamondhead, Adventure, Roadster, and Cruiser.

This move comes as several new-age mobility companies, including Ultraviolette, EMotorad, Motovolt and Toutche Electric, entered the electric bike market.

Ola’s entry into the electric motorbike segment comes a week after the company listed on the bourses in a muted market debut. The stock opened at a flat INR 75.99 apiece on the BSE as against its IPO issue price of INR 76.

In the first quarter (Q1) of the financial year 2024-25 (FY25), the startup’s net loss rose 30% to INR 347 Cr from INR 267 Cr in the year-ago quarter.

Meanwhile, operating revenue grew 32% year-on-year (YoY) to INR 1,644 Cr during the quarter under review.

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