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Shares of Ola Electric skyrocketed 14.43% in early trade to INR 76.50 apiece on the BSE after the Bhavish Aggarwal-led company launched its Gen 3 escooter series
The Gen 3 platform will give a 20% boost to the peak power of Ola escooters, reduce costs by 11%, and increase range by 20%, the company said
“Today, with Gen 3, we are taking the EV 2W industry to the ‘next level’,” said Aggarwal
Shares of Ola Electric skyrocketed 14.43% in early trade to INR 76.50 apiece on the BSE today (January 31) after the Bhavish Aggarwal-led company launched its Gen 3 escooter series.
The electric mobility company 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%.
The Gen 3 electric two-wheeler portfolio includes the S1 Pro+, S1 Pro, and the more affordable S1 X and S1 X+ models – all of which sport Ola’s latest EV operating system, ‘MoveOS 5’.
While the entry-level S1 X with a 2kWh battery is priced at INR 79,999, Ola’s flagship Gen 3 S1 Pro+ with a 5.3 kWh battery will set riders back by INR 1,69,999, as per the company’s exchange filing.
Ola kickstarted the EV revolution in the country with its Gen1 scooters and made EV two-wheelers more accessible with Gen2 by expanding its portfolio, said Aggarwal.
“Today, with Gen 3, we are taking the EV 2W industry to the ‘next level’,” said Ola’s founder.
With the Gen 3 platform, the company has also introduced the category-first dual ABS (anti-lock braking system) and patented brake-by-wire technology for EV scooters.
The EV manufacturer will start delivering its Gen3 scooters in mid-February. Simultaneously, it will also roll out the beta version of MoveOS 5, giving Ola riders access to several new features such as Smartwatch App, Road Trip Mode, Live Location Sharing, among others.
It is to be noted that Bajaj Auto and TVS Motor surpassed Ola Electric in terms of escooter sales in December. The company has been expanding its product catalog and store network to regain lost ground.
Earlier this month, Ola Electric started production of its ‘Roadster’ electric bike, which the company unveiled in August 2024. The company also showcased the electric bike, along with its other offerings – Ola Gig and Ola S1 Z, at the Bharat Mobility Expo 2025.
This comes at a time when the EV manufacturer is facing scrutiny from the Central Consumer Protection Authority (CCPA) over allegations of delays in providing services and deliveries, defective vehicle sales and other consumer complaints.