Besides, the listed startup also announced that it will integrate its batteries into the vehicles by Q1 FY26
The portfolio launch will be a part of Ola Electric’s event called Sankalp tomorrow at the Futurefactory, Krishnagiri in Tamil Nadu.
It is pertinent to note that Ola Electric has been working on a prototype of an electric bike for quite some time.
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Days after teasing the launch of its electric bike on Independence Day, EV major Ola Electric has now announced that it will be launching a portfolio of e-bikes across mass and premium segments tomorrow (August 15).
Besides, the listed startup also announced that it will integrate its batteries into the vehicles by Q1 FY26
The portfolio launch will be a part of Ola Electric’s event called Sankalp tomorrow at the Futurefactory, Krishnagiri in Tamil Nadu.
It is pertinent to note that Ola Electric has been working on a prototype of an electric bike for quite some time. Earlier in August last year, it showcased concept electric motorcycles for four models – Diamondhead, Adventure, Roadster and Cruiser.
Moreover, Ola Electric is reportedly aiming for delivery of these ebikes by the first half of the financial year 2025-26 (FY26).
The development comes against the backdrop of a slew of new-age mobility players in the likes of Ultraviolette, EMotorad, Motovolt, Toutche Electric foraying into the electric bike segment.
Meanwhile, legacy brands, including, Royal Enfield, Hero, TVS Motor and Bajaj Auto have been aligning their interest in the segment lately. For instance, in July, Eicher Motors, which is the parent company of Royal Enfield, filed an electric bike design patent in India.
This move of entering the electric bike segment is expected to enable Ola Electric higher margins as these auto products largely cater to the premium segment.
Apart from this, the new segment foray will diversify its product portfolio while leveraging the production capacity at its mega gigafactory in Tamil Nadu.
The development comes on the sidelines of Ola Electric’s consolidated net loss plunging 30% to INR 347 Cr in Q1 FY25 from INR 267 Cr in the year-ago quarter.
On a sequential basis, its loss declined nearly 17% from INR 416 Cr in the preceding March quarter.
Operating revenue grew 32% to INR 1,644 Cr during the quarter under review from INR 1,243 Cr in Q1 FY24. On a sequential basis, revenue from operations rose nearly 3% from INR 1,598 Cr.
According to a report by Mordor Intelligence, the Indian EV market is projected to grow at a CAGR of 22.9% to $120 Bn by 2030 from $34.8 Bn in 2024.
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