Shares of Ola Electric Mobility Ltd shot up 14% on Friday, 31 January, after the company announced the launching of 8 new scooters across the mass and premium segments, extending its S1 portfolio with Gen 3 features.
Ola Electric announced that its Gen 3 platform offers a 20% increase in peak power, an 11% reduction in cost, and a 20% boost in range compared to previous generations.
The company regained its position as the market leader in India’s electric two-wheeler (EV 2W) segment, securing a 25% market share in January 2025. Ola registered 22,656 vehicles, marking a 65% month-on-month growth, according to Vahan data.
In December 2024, Bajaj Auto had briefly overtaken Ola Electric, capturing a 25% market share, while Ola’s share dropped to 19% from 24% in November, reflecting a 5% decline.
Ola Electric also introduced its latest Gen 3 S1 Pro+, which has 5.3kWh and 4kWh battery options, while the S1 Pro comes with 4kWh and 3kWh battery choices.
Additionally, the Gen 3 S1 X has been launched in four variants, including the S1 X+ (4kWh) and S1 X with 4kWh, 3kWh, and 2kWh battery options.
The Gen 3 series starts at an introductory price of Rs 79,999 for the S1 X (2kWh) and goes up to Rs 1,69,999 for the S1 Pro+ 5.3kWh, which features the 4680 Bharat Cell. Deliveries for the new Gen 3 models will begin in mid-February 2025.
Bhavish Aggarwal, Chairman & Managing Director of Ola Electric, said, “Today, with Gen 3, we are taking the EV 2W industry to the ‘Next Level’. Gen 3 is bringing unmatched performance, superior efficiency and reinventing benchmarks we set for ourselves, and which will change the industry all over again.”
Ola Electric’s flagship Gen 3 S1 Pro+ (5.3kWh), featuring the 4680 Bharat Cell, is priced at Rs 1,69,999, while the 4kWh variant is available for Rs 1,54,999. The S1 Pro offers 4kWh and 3kWh battery options, priced at Rs 1,34,999 and Rs 1,14,999, respectively.
The S1 X series starts at Rs 79,999 for the 2kWh model, followed by Rs 89,999 for the 3kWh version and Rs 99,999 for the 4kWh variant. Meanwhile, the S1 X+ (4kWh) is priced at Rs 1,07,999.
Alongside the Gen 3 launch, Ola Electric has announced discounts of up to Rs 35,000 on its Gen 2 scooters. The revised pricing for the Gen 2 lineup includes the S1 Pro at Rs 1,14,999, while the S1 X variants are now available at Rs 69,999 (2kWh), Rs 79,999 (3kWh), and Rs 89,999 (4kWh).
At 3:30 pm, the shares of Ola Electric closed 11.99% higher at Rs 74.80 on NSE.
Tired of missing hot stocks? Unicorn Signals provides powerful tools like stock scans and more help you make informed trading decisions. Download now and take control of your portfolio!
