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Ola Electric Shares: Reservations for the brand new scooters have already begun, with deliveries scheduled to start out in April 2025 for the Ola Gig vary
Ola Electric Shares Jump 8% After Launching Gig and S1 Z Scooters
Ola Electric Shares: Ola Electric’s shares surged by 20%, reaching the higher circuit restrict of Rs 88.16 on the BSE right this moment, following the corporate’s announcement of two new electrical scooter fashions, beginning at simply Rs 39,000—making them probably the most reasonably priced choices in Ola’s lineup.
Ola Electric’s share worth opened at Rs 77.71, marking a 5% improve from the earlier shut of Rs 73.47. The inventory later reached an intraday excessive of Rs 79.33, reflecting a acquire of 8%.
In a put up on X (previously Twitter), Ola CEO Bhavish Aggarwal launched the brand new Ola S1 Z and Ola Gig ranges, priced beginning at Rs 39,000, together with a conveyable battery pack that doubles as a house inverter through the Ola PowerPod. He highlighted the affordability and accessibility of the brand new fashions, that are designed to cater to a broad vary of shoppers.
Reservations for the brand new scooters have already begun, with deliveries scheduled to start out in April 2025 for the Ola Gig vary and May 2025 for the Ola S1 Z vary.
New Scooter Range Details:
Ola Electric launched the Ola Gig, Ola Gig+, Ola S1 Z, and Ola S1 Z+ fashions, with introductory ex-showroom costs of Rs 39,999, Rs 49,999, Rs 59,999, and Rs 64,999, respectively. Reservations for these fashions can be found from November 26 at simply Rs 499. The scooters provide reasonably priced, sturdy, and versatile options, that includes detachable batteries for each private and business use in city, semi-urban, and rural areas.
Ola’s transfer to increase its electrical scooter vary comes at a time when the corporate has confronted ongoing buyer complaints relating to its companies and merchandise. The Central Consumer Protection Authority (CCPA) had beforehand ordered an investigation into alleged service deficiencies associated to Ola Electric’s automobiles. Last month, the corporate reported resolving 99.1% of the ten,644 complaints forwarded by the CCPA.
In one other growth, Ola Electric reportedly laid off 500 staff in early November as a part of a restructuring effort to enhance margins and profitability.
Ola’s Vision for the EV Market:
With the launch of the brand new scooters, Ola Electric goals to revolutionize entry to electrical automobiles (EVs) by providing a variety of reasonably priced choices for a various set of shoppers. Bhavish Aggarwal emphasised that the corporate is dedicated to increasing EV adoption throughout India, stating that the brand new vary of scooters, coupled with the prevailing portfolio, will assist drive the nation nearer to “ending the interior combustion engine age.”
Aggarwal additionally identified that the brand new scooters’ transportable batteries, which might perform as dwelling inverters, provide added worth by powering family home equipment, enhancing the effectivity of the battery system.
