Ola Electric shares surged over 3% in early trade after Goldman Sachs reiterated its bullish stance on the electric two-wheeler maker, maintaining a buy rating with a target price of ₹72 per share. As of 9:31 AM, the shares were trading 2.94% higher at Rs 61.68.
The brokerage highlighted Ola Electric’s new Gen 3 scooter platform and an expanded service network as key drivers supporting a potential 30–35% market share in India’s rapidly growing electric two-wheeler segment.
Goldman Sachs also noted the company’s shift in strategy towards developing 5 GWh of in-house battery cell production capacity, down from the previously planned 20 GWh. This adjustment aligns production capacity more closely with near-term demand.
Significantly, Goldman expects Ola Electric’s auto business to reach EBITDA breakeven by FY26, reflecting improving fundamentals and strong growth visibility for the EV maker.
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