Workers assemble electric motorbikes on a production line in a bustling factory.
Shares of Ola Electric rallied, surging over 10% to ₹28.53 on the BSE, after the company announced a price cut of over 31% on its Roadster X+ 9.1 kWh electric motorbike. At 13:35 IST, the stock traded 7.10% higher at ₹27.77, with a market capitalization of approximately ₹12,250 Cr ($1.3 Bn).
The rally follows a previous surge of over 14% driven by a sharp increase in electric two-wheeler (E2W) registrations in March. Ola Electric’s registrations jumped 139% to 9,496 units, up from 3,973 units in February, securing the fifth position with over 5% market share.
The company attributes the price reduction to achieving “economies of scale” in manufacturing its 4680 Bharat Cell, allowing it to offset production costs for the Roadster X+ 9.1 kWh ebike. The price has been reduced to ₹1,29,999 from ₹1,89,999.
Ola Electric is transitioning from open sales to a limited purchase window model due to demand surpassing supply capacity. The first purchase window will open tomorrow.
A company spokesperson stated that the demand for the Roadster has grown more than 5X during the EndICEAge campaign, making long-range electric mobility more accessible. Ola Electric is also scaling the capacity of its gigafactory to 6 GWh, up from an initial target of 5 GWh. The lithium-ion battery 4680 Bharat Cell, manufactured at this plant, is used in its Gen 3 range of escooters, including the S1 Pro+ and Gen 3 S1 X+.
Despite recent gains, Ola Electric’s shares remain down over 60% from their IPO price of ₹76 per share. The company’s operating revenue decreased by 55% YoY and 32% QoQ to ₹470 Cr, while net loss decreased by 14% to ₹487 Cr.
About the Author
