Ola Electric zooms 54% in 12 trading days; what's driving EV 2W stock?

Ola Electric Mobility share price today: Shares of Ola Electric Mobility (Ola Electric) hit an over six-month high of ₹61.14, as the scrip rallied 13 per cent on the BSE in Monday’s intra-day trade amid heavy volumes. The stock price of India’s largest pure-play electric vehicle (EV) company is trading at its highest level since February 13, 2025.

 

In the past five trading days, Ola Electric has outperformed the market by surging 26 per cent, as compared to 1.7 per cent decline in the BSE Sensex. In the past 12 trading days, it zoomed 54 per cent from level of ₹ 39.83 on August 12, 2025. The stock had hit a record low of ₹ 39.58 on July 14, 2025. It had hit a 52-week high of ₹131 on August 27, 2024.

 

At 12:17 PM, Ola Electric was quoting 12.5 per cent higher at ₹60.75, as compared to 0.43 per cent rise in the BSE Sensex. A combined 629 million equity shares of the company have changed hands on the NSE and BSE.

 

Apart from that, shares of Ather Energy, the peer group company of Ola Electric, hit a record high of ₹494.60, rallying 10 per cent on the BSE in intra-day trade today. In the past one month, the stock has zoomed 42 per cent. 

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What’s driving Ola Electric Mobility share price?

 

Electric two-wheeler manufacturer Ather Energy’s CEO Tarun Mehta said the issue of restricted supply of rare earth magnets is sorted out for now. Mehta said the automobile industry needs to move away from heavy rare earths to at least light rare earths. Rare earth metals and magnets are essential materials used in electronics and electric vehicles. CLICK HERE FOR FULL REPORT

 

Meanwhile, on August 26, 2025, Ola Electric announced that it has secured Production Linked Incentive (PLI) certification for its Gen 3 Scooter Portfolio. The company’s spokesperson said that the securing PLI certification for Gen 3 scooters, which form the bulk of the company’s sales, is a critical step towards profitability. The PLI certification makes Ola Electric eligible for incentives ranging from 13 per cent to 18 per cent of the determined sales value (DSV) until 2028, according to the filing. 

Technical view 

"Ola Electric has given a strong breakout above its falling trendline, with momentum supported by high volumes. Immediate resistance lies at ₹55–58; a sustained move above this zone could push the stock to ₹62–65 in the near term. On the downside, ₹50 is the first key support, followed by ₹46 (20-day EMA). The RSI, near 68, suggests the stock is approaching overbought territory and a short-term pullback or sideways consolidation is possible before another leg higher. Sustaining above ₹50 will be crucial for the bullish setup to remain intact," said Drumil Vithlani, technical research analyst, Bonanza.

EV 2W sector outlook

 

With recovering urban demand, greater financing access, premiumisation trends and continued policy tailwinds, the E2W sector is poised for accelerated growth. With continued investments in R&D, a strong product pipeline, and a nationwide presence, Ola Electric remains at the forefront of driving widespread EV adoption across both scooters and motorcycles in India, the company said.

 

Meanwhile, the global shift towards sustainable mobility is opening up significant export opportunities. Indian E2W manufacturers are well-positioned to cater to emerging markets like Africa, Latin America, and Southeast Asia, which currently account for 75 per cent of India’s 2W exports, Ola Electric said in its FY25 annual report.

 

In an optimistic scenario, driven by increased EV launches, strong government support, rapid infrastructure development, reduced battery prices, and a faster consumer shift toward electrification, industry sales could grow at 8 per cent compounded annual growth rate (CAGR), reaching 30-31 million units by FY31. In this scenario, EV penetration may rise to 40 per cent, compared to the 35 per cent projected in the base case, Ather Energy said in its FY25 annual report.

 

Scooters are expected to lead electrification in 2W. E2W penetration in scooters was ~16 per cent in FY25 and is expected to be as high as 70 per cent in FY31. EV penetration in motorcycles is projected to be 10 per cent by FY31, the company said.