Ola Electric shares experienced a notable surge of over 11% on August 16, following the unveiling of their new electric motorcycle, the ‘Roadster Pro,’ during their flagship annual event, Sankalp 2024.
Key Highlights of the Launch:
- Roadster Pro Details:
- Variants: Available in 8kWh and 16kWh battery options
- Pricing: ₹2 lakh (8kWh) and ₹2.5 lakh (16kWh), ex-showroom
- Top Speed: Up to 194 kmph
- Range: Up to 579 km
- Acceleration: 0-40 kmph in 1.2 seconds (16kWh variant)
- Features:
- 10-inch TFT touchscreen
- USD forks
- Two-channel switchable ABS
- Four riding modes (Hyper, Sport, Normal, Eco)
- Advanced braking and safety technologies
- Roadster X Details:
- Variants: 2.5 kWh, 3.5 kWh, and 4.5 kWh battery options
- Top Speed: 124 kmph
- Range: Up to 200 km
- Acceleration: 0-40 kmph in 2.8 seconds (4.5 kWh variant)
- Features:
- 4.3-inch LCD display
- Ola Maps Navigation
- Advanced regen and cruise control
- Multiple riding modes and digital connectivity
Financial Performance:
- Q1 FY25 Net Loss: ₹346 crore, up from ₹268 crore in Q1 FY24
- Quarterly Loss Improvement: Decreased from ₹418 crore in the previous quarter
Market Impact:
- Share Price Movement: As of 10:23 AM, Ola Electric shares were trading 10.81% higher at ₹122.89 on the NSE.
CEO’s Remarks:
Bhavish Aggarwal, Founder and CMD of Ola Electric, expressed enthusiasm about the new Roadster Series, stating that it will accelerate EV adoption in India’s two-wheeler market. Aggarwal emphasized the company’s commitment to boosting EV penetration with their innovative product lineup and planned integration of in-house developed cells in their vehicles.
TOPICS:
OLA electric