Ola Electric Unveils Escooters For Gig Economy Workers

Electric two-wheeler manufacturer Ola Electric has unveiled electric scooters, S1 Z and Gig,  designed to cater to gig economy workers and cost-conscious consumers. 

Starting at INR 39,999, the models under Ola Gig will directly compete with offerings from players like Yulu, targeting short-distance commutes and delivery use cases.

While Ola Gig has been launched at a price of INR 39,999, Ola Gig+ will cost INR 49,999. 

Here are the specifications:

Meanwhile, S1 Z will be available at a price of INR 59,999 and S1 Z+ at INR 64,999

Both scooters come with portable battery packs, and can also function as a home inverter using Ola’s PowerPod. 

As of now, reservations for the S1 Z and Gig range are open, with deliveries scheduled to begin in April 2025.

Recently, the company undertook a restructuring exercise to cut its workforce by about 500 to achieve profitability.

This comes after Ola Electric posted a net loss of INR 495 Cr in the second quarter of the ongoing fiscal year (Q2 FY25). While loss narrowed 5.5% on a year-on-year (YoY) basis, it rose 43% from INR 347 Cr in Q1 FY25.

It was also reported earlier this year that the Central Consumer Protection Authority (CCPA) has launched a detailed investigation into the consumer complaints filed against the company. 

Last month, the CCPA issued a show cause notice to Ola Electric over user complaints. Following this, the company said that 99.1% of the 10,644 complaints were resolved to the complete satisfaction of the customer. 

Meanwhile, the company’s shares gained as much as 7.49% at INR 74.74 during the intraday trading session on the BSE today (November 26). 

The shares of Ola Electric ended today’s trading session 5.42% higher at INR 73.30 on the BSE.