Ola Electric Mobility enters EV motorcycle segment; shares gain 3%

Shares of Bhavish Aggarwal-led Ola Electric Mobility were buzzing in trade on Wednesday, February 5, 2024. The company's share price advanced 2.84 per cent to the day's high of Rs 77 per share on the BSE. The northward move in Ola Electric Mobility's share price came after the company announced its entry into the EV motorcycle segment with the launch of its Roadster X series.

 

"Built on the company’s scalable motorcycle platform, the all-new Roadster X series is being introduced starting at Rs 74,999 for the Roadster X, Rs 1,04,999 for the Roadster X+ 4.5kWh, and Rs 1,54,999 for the Roadster X+ 9.1kWh (with 4680 Bharat Cell), which offers an unrivalled range of 501 km per charge," Ola Electric Mobility said in a release.

 

Bhavish Aggarwal, chairman & managing director of Ola Electric, said, “Motorcycles are at the heart of India’s mobility landscape. With our electric motorcycles, we’re driving the EV revolution deeper into the core of Indian mobility. After transforming the scooter market and making EVs mainstream, our futuristic Roadster series of motorcycles is here to accelerate EV adoption further and make electric the first choice for every rider in India. The Roadster series will transform urban and rural mobility alike and take us closer to EndICEAge, bringing in unmatched range, performance, reliability, efficiency, and technology. There can’t be a better time to join the revolution.”

 

Ola Electric Mobility is an electric vehicle (EV) manufacturer specializing in the vertical integration of technology and manufacturing for EVs and their components, including battery cells. Headquartered in Bangalore, Karnataka, the company is led by Bhavish Aggarwal. As of February 5, 2024, the company's market capitalisation stands at Rs 33,063.58 crore on the BSE.

 

Ola Electric Mobility shares made their D-Street debut on August 9, 2024, with a listing that was flat at Rs 75.99 on the BSE and Rs 76 on the NSE, against the issue price of Rs 76, following the completion of its initial public offering (IPO).

 

Ola Electric Mobility shares scaled their all-time high of Rs 157.53 on the BSE on August 20, 2024, while their 52-week low of Rs 64.68 was recorded on January 28, 2025.

 

Ola Electric Mobility shares, however, have taken a retreat today. As of 01:01 PM on Wednesday, the stock was trading at Rs 75.01, up 0.19 per cent from its previous close of Rs 74.87 on the BSE. A combined total of nearly 18.41 million shares of Ola Electric Mobility, worth approximately Rs 139.24 crore, exchanged hands on the NSE and BSE.

 

In comparison, the benchmark equity indices BSE Sensex was trading 210 points lower at 78,373 levels, while NSE Nifty stood at 23,728.35, down 0.05 per cent.