Ola Electric Shares Skyrocket 14% On Launch Of Gen 3 Escooters

Ola Electric Shares Skyrocket 14% On Launch Of Gen 3 Escooters

SUMMARY

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.

 

You have reached your limit of free stories
Become A Startup Insider With Inc42 Plus

Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in india's startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Ola Electric Shares Skyrocket 14% On Launch Of Gen 3 Escooters-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Ola Electric Shares Skyrocket 14% On Launch Of Gen 3 Escooters-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Ola Electric Shares Skyrocket 14% On Launch Of Gen 3 Escooters-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Ola Electric Shares Skyrocket 14% On Launch Of Gen 3 Escooters-Inc42 Media
Ola Electric Shares Skyrocket 14% On Launch Of Gen 3 Escooters-Inc42 Media
You’re in Good company