Ola Electric Share Price Surge 8% on Launch of Affordable Scooters Starting at ₹39,000

Ola Electric saw its shares rise by 8.11%, reaching an intraday high of ₹84.00 on the NSE today, following the announcement of its new affordable electric scooter range. These scooters, starting at just ₹39,000, are the most budget-friendly options in Ola's lineup, aimed at making electric mobility accessible to a broader audience.

Ola Electric stock opened at ₹77.70 on Wednesday, marking a 5.83% increase from its previous close of ₹73.42, and climbed further to hit the day’s high of ₹84. This surge may reflect strong investor confidence in the company's strategic move to democratize electric vehicle (EV) adoption in India.

Ola Electric unveiled four new scooters under the Gig and S1 Z series: Ola Gig, Gig+, S1 Z, and S1 Z+, with introductory prices ranging from ₹39,999 to ₹64,999. Booking for these models began on November 26, with a nominal reservation fee of ₹499. Deliveries are scheduled for April and May 2025.

“At Ola, we are committed to taking the EV revolution to every nook and corner of the country. With the launch of the Ola Gig & S1 Z range of scooters, we will further accelerate EV adoption, catering to a wide range of personal and commercial use cases with affordability, reliability, and safety as the core pillars,” said Bhavish Aggarwal, Chairman & Managing Director, Ola Electric.

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The Ola Gig series is designed for gig workers, offering practical solutions for short-distance commutes and delivery services. Priced at ₹39,999, the Ola Gig features a removable 1.5 kWh battery, a range of 112 km, and a top speed of 25 km/h. The Gig+ version, at ₹49,999, extends the range to 157 km and offers a dual-battery option for longer trips.

Urban commuters have the S1 Z series, starting at ₹59,999. The Ola S1 Z provides a range of 146 km and a top speed of 70 km/h, appealing to students, professionals, and elderly riders. For added durability and payload capacity, the S1 Z+ is available at ₹64,999, addressing both personal and commercial needs.

Ola Electric also introduced the PowerPod, a portable inverter priced at ₹9,999. This device transforms the removable batteries into power sources for essential appliances like fans, lights, and TVs, providing up to three hours of backup during power outages.

The company’s expanded lineup now includes premium scooters like the S1 Pro and S1 Air, as well as mass-market models like the S1 X series. It has also ventured into electric motorcycles, with prices ranging from ₹74,999 for the Roadster X to ₹1,99,999 for the high-performance Roadster Pro.

In Conclusion

Ola Electric's recent announcements demonstrate its dedication to enhancing the use and accessibility of electric mobility for a wide range of consumers. In addition to meeting a range of customer needs, the company is promoting the usage of sustainable transportation in India by launching reasonably priced solutions with cutting-edge technology. Ola Electric wants to be a key player in determining the direction of mobility in the future with its growing product line and goal of mainstream EV adoption.