Shares of Ola Electric Mobility Ltd. rallied by 20% to touch a day’s high of Rs 133.08 on 16th August after the company announced its entry into the electric motorcycle segment with the launch of the ‘Roadster’ series on Thursday. The bikes are priced between Rs 75,000 and Rs 2.5 lakh.

The company announced plans to integrate its own cells into its vehicles starting in Q1 FY26. At Sankalp 2024, the company showcased the Bharat 4680 cell, battery pack, new Gen-3 platform, and MoveOS 5 at its Future factory in Krishnagiri, Tamil Nadu, on 15th August, 2024.

Bhavish Aggarwal, Founder and CMD of Ola Electric mentioned that two-thirds of the two-wheeler market comprises motorcycles. He emphasized that Ola’s entry into the motorcycle segment will further accelerate EV penetration, building on its success in the scooter segment.

In April, the company reduced prices on its most affordable scooter model to boost demand after the government cut EV subsidies. Although the company plans to lower costs further by using its own batteries next year, these discounts impacted profitability, leading to a consolidated loss of Rs 347 crore for Q1 FY25, compared to Rs 267 crore in the same period last year.

Revenue from operations for the quarter rose to Rs 1,644 crore, up from Rs 1,243 crore in the previous year, driven by a sharp increase in sales. The company’s EBITDA loss remained largely flat at Rs 205 crore, compared to a loss of Rs 218 crore in the same period last year. 

The company delivered a record 1,25,198 units in June, compared with 70,575 units in the same month last year, with market share hitting a record 49%.

At 11:15 AM, the shares of Ola Electric were trading 17.65% higher at Rs 130.47 on NSE.

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