Ola Electric Shares Jump 8% After Gen 3 Escooter Series Launch

SUMMARY

Ola Electric shares were last up about 3% at INR 77.01, compared to its last close of INR 74.79

The market capitalization of the EV maker currently stands at INR 33,967.80 Cr

Only a day ago, Ola Electric unveiled 8 new escooters across mass and premium segments, built on the advanced Gen 3 platform

Shares of Bhavish Aggarwal-led electric vehicle maker Ola Electric

surged nearly 8% at INR 80.75 apiece during the intraday trading on the BSE today (February 1).

As of 01:09 PM, the stock pared some gains to trade 3% up at INR 77.01, compared to its last close of INR 74.79 from January 31, on the BSE.

The market capitalization of the EV maker currently stands at INR 33,967.80 Cr.

However, the stock closed marginally in the red as it fell 0.68% at INR 74.28 apiece on the BSE.

This comes a day after Ola Electric unveiled 8 new escooters across mass and premium segments, built on the advanced Gen 3 platform, claiming it will give a 20% boost to peak power, reduce costs by 11%, and increase range by 20%.

Its expansion of portfolio led to the stock’s upsurge of 14.43% in early trade to INR 76.50 apiece on the BSE yesterday.

Earlier this month, the electric mobility company also kicked off the production of its ‘Roadster’ electric bike, which was initially unveiled in August last year.

Finance minister Nirmala Sitharaman, in her Union Budget 2025 speech today announced exemption of Basic Customs Duty (BCD) on cobalt powder, scrap of lithium-ion batteries, LED, zinc and other critical minerals.

To note, earlier this week, the stock slumped to hit an all-time low of INR 64.68 apiece on the BSE, extending their losses for the sixth consecutive session.

Earlier in January, markets regulator SEBI sent an administrative warning to the electric mobility company for flouting disclosure regulations by announcing material information about its planned store network expansion on social media before informing the exchanges first.

Updated at 04:54 PM