Karmactive Team
Ola Electric has introduced new electric scooters to their lineup. The company aims to accelerate the adoption of electric vehicles (EVs) across India.
Ola Electric’s latest lineup consists of four models. The Gig model offers 112 km range with 25 km/h speed. The Gig+ delivers 81 km range at 45 km/h.
“The reservations for both the Gig and S1 Z series are open at just Rs 499,” states Ola Electric’s BSE filing. The pricing structure reads:
- Gig: ₹39,999 (ex-showroom)
- Gig+: ₹49,999 (ex-showroom)
- S1 Z: ₹59,999 (ex-showroom)
- S1 Z+: ₹64,999 (ex-showroom)
The S1 Z series offers dual removable batteries. Each scooter carries a 1.5 kWh battery pack. The 2.9kW hub motor pushes these vehicles from 0-40 km/h in 4.8 seconds. Maximum speed: 70 km/h. Range: 75 km on single battery, 146 km with dual batteries.
Standard features include an LCD display, physical key system, and Bluetooth connectivity. The PowerPod function allows battery use as home power backup.
Ola Electric shares have shown recent movement. Share prices rose 17.71% to ₹86.48, showing a 29.85% recovery from the ₹66.60 low of November 22. This sits 45.10% below the August 2024 peak of ₹157.53.
“Wait for a confirmation above Rs 87 mark and then you can buy the stock with a stop loss of Rs 70,” advises Jatin Gedia at Sharekhan by BNP Paribas.
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“Investors should wait for fresh entry and buy near the Rs 75 range,” suggests Ravi Singh, Senior Vice-President at Religare Broking.
Kushal Gandhi, Technical Analyst at StoxBox, recommends “waiting for a clearer signal, specifically a decisive closing above the crucial resistance level of Rs 88.”
The Central Consumer Protection Authority (CCPA) has reviewed over 10,000 customer complaints. Ola Electric reports a 99.1% resolution rate for these complaints.
Store network expansion plans show targets: 782 to 2,000 locations by March 2025. Deliveries schedule:
- Gig series: April 2025
- S1 Z series: May 2025
As of September 2024, promoter holding stands at 36.78%. The manufacturing happens at Ola Futurefactory, producing vehicles and core components including battery packs, motors, and frames.
The S1 Z and S1 Z+ models come with removable battery packs that can be charged using a three-pin charging socket. The scooters feature sleek panels and minimal bodywork.
Both scooters include portable battery packs. The Ola PowerPod enables these batteries to function as home inverters. Citi has initiated coverage with a ‘Buy’ rating and a target price of ₹90.
