The shares of a leading EV manufacturer climbed around 15% on Friday’s trade after the company announced a new product launch across mass and premium segments.
Share Price Movement
The shares of Ola Electric Mobility Ltd, with a market capitalization of Rs 33,019.47 Crores, closed at Rs 75 per share, around 12% higher than its previous close of Rs 66.8. It reached an intraday high of Rs 76.53 and gained around 15% on Friday’s trade.
Product Launch Details
As per a press release dated January 31, 2025, Ola Electric, India’s largest pure-play EV company, today launched its S1 Gen 3 portfolio consisting of 8 new scooters taking the technology play in EVs to the ‘Next Level’.
The company launched its Flagship Gen 3 S1 Pro+, along with Gen 3 S1 X in four variants. Gen 3 price range starts at an introductory price of Rs 79,999 for the S1 X and goes up to Rs 1,69,999 for the S1 Pro+.
Compared to Gen 2, Gen 3 platform offers a 20% increase in peak power, an 11% reduction in cost, and a 20% increase in range. Deliveries for the Gen 3 portfolio are to commence from mid-February onwards.
Management Commentary
Bhavish Aggarwal, Chairman & Managing Director, of Ola Electric, said, “ Today, with Gen 3, we are taking the EV 2 Wheeler industry to the ‘Next Level’ with Gen 3 by bringing unmatched performance, superior efficiency, and reinventing benchmarks we set for ourselves, which will change the industry all over again”
Financials
The company reported an increase of 39% in Revenue from Operations from Rs 873 Crores in Q2FY24 to Rs 1,214 Crores in Q2FY25. However, on a quarterly basis, its revenue from operations declined by 26% from Rs 1,644 Crores in Q1FY25.
Its Net losses were reduced from Rs 524 Crores in Q2FY24 to Rs 495 Crores in Q2FY25. However, on a quarterly basis, Net losses increased from Rs 347 Crores in Q1FY25.
About Ola Electric Mobility
Ola Electric Mobility Limited is India’s leading electric vehicle (EV) manufacturer specializing in the vertical integration of technology and manufacturing for EVs and their components, including battery cells. The Ola Futurefactory in Tamil Nadu is spread across 400+ acres, where EVs and critical components are produced. It is supported by Ola’s Bengaluru-based Battery Innovation Centre (BIC), dedicated to advancing cell and battery technology. Ola’s R&D efforts span India, the UK, and the US, and it maintains a direct-to-customer distribution network with more than 800 stores across India.
Written By Adhvaitha Nayani
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