Page 7 - Ola Electric Mobility

Ola Electric offers Holi discounts of up to Rs 26,750 on S1 e-scooters

Ola Electric on Thursday announced limited-time Holi flash sale offers for its S1 range of electric scooters. Under this sale, customers can avail discounts of up to Rs 26,750 on S1 Air and Rs 22,000 on S1 X+ (Gen 2), with the models now starting at Rs 89,999, and Rs 82,999, respectively, the company said in a statement. The flash sale began on March 13 and ends on March 17. The company is also offering discounts of up to Rs 25,000 on the rest of its S1 range, including all the scooters from its latest S1 Gen 3 range, it added. With both S1 Gen 2 and Gen 3, the company has a portfolio of scooters across all price points ranging from Rs 69,999 to Rs 1,79,999 (after festive discount). Ola Electric said it is also offering benefits worth up to Rs 10,500. New buyers of S1 Gen 2 scooters can avail 1 year of free Move OS+ worth Rs 2,999, and extended warranty worth Rs 14,999 at Rs 7,499, it added. The Gen 3 portfolio comprises the flagship S1 Pro+ 5.3kWh and 4kWh priced at Rs 1,85,00

Ola Electric eyes Ebitda breakeven in automotive by Q1FY26; stock up 3%

Ola Electric share rose after the company's announcement that it expects Ebitda breakeven in its Automotive segment by Q1FY26, with full financial benefits from recent initiatives expected by April'25

Saving about Rs 90 cr per month from cost-cut measures, says Ola Electric

Ola Electric, in which the SoftBank Group has a significant stake, reported a wider quarterly loss of Rs 564 crore in the October-December quarter as it offered heavy discounts to lure customers

Ola Electric showrooms raided in India over trade certificate violations

That means more than 95% of the stores on which Bloomberg News saw the data, lacked basic certification needed to display, sell, offer test rides on or transport unregistered two-wheelers

Ola Electric gains 3% on production linked incentive sanction of Rs 73 cr

Shares of Ola Electric were in focus on Thursday, after it disclosed that it's subsidiary's claim for incentives under the PLI scheme for automobile has been approved by the government

Why Honda could lose out to local rivals in India's scooter market

With rising incomes across India and Southeast Asia, the sector is booming: McKinsey & Co reckons sales will grow at 8.7 per cent a year through 2029

Stocks to Watch, March 5: Adani Wilmar, Coforge, Biocon, Ola Electric, RVNL

Biocon: The company's subsidiary, Biocon Pharma, has received USFDA approvals for Lenalidomide capsules and Dasatinib tablets, and tentative approval for Rivaroxaban tablets

Ola Electric gets IFCI notice for missing PLI-ACC scheme milestones

Ola Electric Mobility on Tuesday said its wholly-owned subsidiary has received a letter from IFCI for missing out on targets specified under the Production Linked Incentive Advanced Chemistry Cell scheme (PLI ACC). As per the government sources, the company did not meet production and investment-related criteria specified under in PLI ACC scheme. "We would like to inform you that we are in receipt of a letter from IFCI Ltd for non-achievement of Milestone -1 as per schedule M of the Programme Agreement dated July 28, 2022," Ola Electric said in a regulatory filing. The company is actively engaged with the relevant authorities in this regard and is in the process of filing an appropriate response, it added. Ola Electric Mobility Cell Technologies, a wholly-owned subsidiary of the company, had entered into a programme agreement with the Ministry of Heavy Industries for availing the scheme. Pursuant to the scheme, IFCI Ltd was appointed as the project management agency for the PLI AC

Reliance Industries seeks extension for EV battery-making plant setup

The government has slapped a penalty on a unit of Reliance Industries Ltd for failing to meet the deadline for setting up a battery cell plant for which it was granted production-linked incentives, the firm said on Tuesday. In a stock exchange filing, Reliance said its step-down subsidiary, Reliance New Energy Battery Storage Ltd on March 3 received "a letter from the Ministry of Heavy Industries levying liquidated damages at the rate of 0.1 per cent of the performance security (Rs 50 crore) for each day of delay from January 1, 2025." The penalty was for the "delay in achievement of Milestone 1 under the programme agreement executed with MHI in connection with 5 GWh manufacturing capacity awarded under the Performance-Linked Incentive Scheme for Advanced Chemistry Cell," it said. The liquidated damages or penalty computed till March 3, 2025 was Rs 3.1 crore. "RNEBSL has requested for an extension of time for achievement of the said Milestone 1," it said. The firm, however, neithe

Bhavish pulls a Musk, asks Ola staff for weekly 'Kya chal raha hai' reports

Ola CEO Bhavish Aggarwal mandates weekly reports from employees, mirroring Elon Musk's directive, as part of stricter workplace policies amid reported layoffs at Ola Electric

Ola Electric likely to lay off over 1,000 employees to reduce losses

The layoff news saw the SoftBank Group-backed firm's stock hit a 52-week low in intraday trading

EV major Ola Electric lays off over 1,000 employees amid mounting losses

SoftBank-backed Ola Electric has laid off over 1,000 employees as part of a restructuring move to cut costs and improve margins, even as it struggles with mounting losses and rising competition

Ola Electric sells 25,000 units in February, retains 28% market share

The electric vehicle (EV) maker said this was backed by a strong S1 portfolio and a sales-and-service network of 4,000 stores across the country

Ola Electric sells 25,000 units in February, grabs 28% market share

Ola Electric on Friday said it sold 25,000 units in February and reached a market share of over 28 per cent, cementing its leadership in the electric two-wheeler segment. The company achieved the sales milestone on the back of S1 portfolio and sales-and-service network of 4,000 stores across the country, Ola Electric said in a statement. "We have successfully maintained a strong sales momentum and leadership position through the month of February," a Ola Electric Mobility spokesperson said. Owing to a wide scooter portfolio across mass and premium segments, and sales network of 4,000 stores across India, the company is now witnessing a strong uptick in demand beyond urban cities, the spokesperson added. "With our Roadster X deliveries scheduled next month, we are confident of further accelerating the EV adoption across the 2W category in India," the company spokesperson stated. The company said it has recently announced the renegotiation of contracts with its vehicle registration

Stocks to Watch, Feb 28: PFC, Paytm, JSW Infra, M&M, Tata Power, LIC

Share market today: Indian stock markets are likely to be influenced by the persistent selling of Indian equities by FIIs, Trump tariffs, and the country's Q3 GDP data set for release later today

Ola Electric, NTPC Green, One Mobikwik, 23 other IPOs hit new lows today

Of the 26 recently-listed IPOs, as many as 21 stocks were trading below their respective issue price on the BSE in Thursday's intra-day trade.

Ola Electric bolsters profitability drive, cuts warehouses, optimises costs

Ola Electric has eliminated its regional warehouses across India, and will now leverage its 4,000 retail stores nationwide for maintaining vehicle inventory, spare parts, accessories, and last-mile deliveries. The strategic move is expected to boost EBITDA margins by almost 10 percentage points, besides improving inventory management and faster customer deliveries, sources directly familiar with the matter said. Ola Electric is redesigning its distribution network and optimizing vehicle registration process as India's largest electric two-wheeler maker chalks out roughly Rs 30 crore monthly savings in an accelerated profitability drive. The company has also renegotiated contracts with vehicle registration agency partners to streamline the process and further reduce costs. While this move temporarily affected the company's registration numbers on the VAHAN portal in February, Ola Electric clarified in a stock exchange filing that actual sales remained unaffected during the ...

Ola Electric renegotiates registration agency contracts; no impact on sales

Ola Electric, India's largest electric scooter maker, on Wednesday announced it is renegotiating contracts with its vehicle registration agencies- a period during which actual sales will not be impacted but the registration numbers showing on the government's VAHAN portal may see a temporary blip. In a stock exchange filing, Ola said it is discussing revising existing agreements with Rosmerta Digital Services Private Ltd and Shimnit India Private Ltd as part of a sales overhaul. This will "temporarily affect" registration numbers reflecting on the VAHAN portal in February. "We are renegotiating the terms of agreement with our agencies, namely Rosmerta Digital Services Private Ltd and Shimnit India Private Ltd, to reduce cost and enhance registration process efficiencies. Due to ongoing negotiations and optimisation of the registration process, our registration numbers for the month of February 2025 (on VAHAN portal) will be temporarily impacted. Our sales continue to be strong ...

Bhavish Aggarwal's Krutrim brings DeepSeek R1 to Indian developers

Policy shift has triggered a significant backlash from anti-corruption watchdogs

Ola Electric slips 3%, nears record low on wider Q3 loss, lower deliveries

Ola Electric's net loss widened to Rs 564 crore, compared to Rs 376 crore in Q3FY24 and Rs 495 crore in Q2FY25, in Q3FY25