Ola Electric Shares Hit 20% Upper Circuit After Launching Gig and S1 Z Scooters; Details

Last Updated: November 27, 2024, 15:05 IST

Ola Electric Shares: Reservations for the brand-new mobility scooters have actually currently started, with distributions set up to begin in April 2025 for the Ola Gig array

Ola Electric Shares: Ola Electric’s shares rose by 20%, getting to the top circuit limitation of Rs 88.16 on the BSE today, complying with the firm’s statement of 2 brand-new electrical mobility scooter versions, beginning at simply Rs 39,000– making them one of the most economical choices in Ola’s schedule.

Ola Electric’s share rate opened up at Rs 77.71, noting a 5% boost from the previous close of Rs 73.47. The supply later on got to an intraday high of Rs 79.33, mirroring a gain of 8%.

In an article on X (previously Twitter), Ola CHIEF EXECUTIVE OFFICER Bhavish Aggarwal presented the brand-new Ola S1 Z and Ola Gig varies, valued beginning at Rs 39,000, in addition to a mobile battery pack that functions as a home inverter through the Ola PowerPod. He highlighted the price and availability of the brand-new versions, which are made to deal with a wide variety of consumers.

Reservations for the brand-new mobility scooters have actually currently started, with distributions set up to begin in April 2025 for the Ola Gig array and May 2025 for the Ola S1 Z array.

New Scooter Range Details:

Ola Electric introduced the Ola Gig, Ola Gig+, Ola S1 Z, and Ola S1 Z+ versions, with initial ex-showroom costs of Rs 39,999, Rs 49,999, Rs 59,999, and Rs 64,999, specifically. Reservations for these versions are readily available from November 26 at simply Rs 499. The mobility scooters supply economical, resilient, and versatile remedies, including detachable batteries for both individual and business usage in metropolitan, semi-urban, and backwoods.

Ola’s relocate to increase its electrical mobility scooter array comes with a time when the firm has actually dealt with recurring consumer problems concerning its product and services. The Central Consumer Protection Authority (CCPA) had actually formerly bought an examination right into supposed solution shortages connected to Ola Electric’s lorries. Last month, the firm reported solving 99.1% of the 10,644 problems sent by the CCPA.

In an additional advancement, Ola Electric supposedly let go 500 workers in very early November as component of a restructuring initiative to enhance margins and success.

Ola’s Vision for the EV Market:

With the launch of the brand-new mobility scooters, Ola Electric intends to reinvent accessibility to electrical lorries (EVs) by using a wide variety of economical choices for a varied collection of consumers. Bhavish Aggarwal stressed that the firm is devoted to increasing EV fostering throughout India, mentioning that the brand-new variety of mobility scooters, paired with the existing profile, will certainly aid drive the nation more detailed to “finishing the interior burning engine age.”

Aggarwal also pointed out that the new scooters’ portable batteries, which can function as home inverters, offer added value by powering household appliances, enhancing the efficiency of the battery system.