Ola Electric expands upgrade programme to over 150 cities after strong initial interest

Arunika Jain — Wed, 25 Mar 2026 09:36:00 +0000

Ola Electric has announced the expansion of its Ola Insiders Upgrade Programme to over 150 cities, following a robust early response. Within days of its launch, the programme saw over 50,000 customers express interest. This expansion will enable 80% of customers across India to upgrade to the latest Ola electric vehicles seamlessly.

The Upgrade Programme, part of the wider Ola Insiders community initiative, allows existing Gen 1 and Gen 2 customers to upgrade their vehicles to the latest Gen 3 S1 portfolio and Roadster motorcycles, offering attractive benefits.

A spokesperson for Ola Electric commented, “The overwhelming response to the Ola Insiders Upgrade Programme reflects the deep trust our community places in us. We are excited to take this programme to over 150 cities, making it easier for 80% of our customers to upgrade to our latest products and continue their electric journey with Ola.”

The expansion ensures that customers can access the upgrade programme across Ola Electric’s extensive retail network, providing a seamless and transparent evaluation and upgrade experience.

The Ola Insiders community programme offers three core benefits:

– **Upgrade**: Gen 1 and Gen 2 customers can upgrade their existing scooters and receive benefits of up to ₹50,000 on the latest Gen 3 S1 portfolio and Roadster motorcycles, including the 4680 Bharat Cell variants.
– **Add-on**: Existing Ola customers can unlock benefits of up to ₹20,000 (including cashback and MoveOS upgrades) when adding another Ola vehicle under the same registered name.
– **Referrals**: Customers can avail referral benefits and earn up to ₹5,000 in Ola credits upon successful delivery. The referred buyer will also receive a ₹1,000 cashback.

Ola Electric currently offers an expansive portfolio of Gen 3 S1 scooters and Roadster X motorcycles. The premium S1 Gen 3 portfolio includes S1 Pro+ in 5.2kWh, and 4kWh configurations, and S1 Pro in 4kWh, and 3kWh configurations priced at ₹1,77,838, ₹1,57,838, ₹1,32,499, and ₹1,12,499, respectively. The company’s mass market offerings include Gen 3 S1 X+ (4kWh), and Gen 3 S1 X (2kWh, 3kWh, and 4kWh) priced at ₹1,07,499, ₹84,999, ₹86,499, and ₹1,02,499, respectively.

The company’s Roadster motorcycle portfolio comprises Roadster X+ in 4.5kWh and 9.1kWh configurations priced at ₹1,09,999, ₹1,89,999 respectively. The Roadster X, available in 2.5kWh, 3.5kWh, and 4.5kWh configurations, is priced at ₹79,999, ₹92,999, and ₹99,999, respectively.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Ola Electric Mobility revises IPO proceeds allocation with Rs 575 crore reallocated

Yash Agarwal — Wed, 18 Mar 2026 13:03:39 +0000

Ola Electric Mobility has announced a proposed variation in the allocation of its Initial Public Offering (IPO) proceeds, subject to shareholder approval. The board of directors approved the changes during a meeting held on 18 March 2026.

The company plans to reallocate ₹575 crore from its original Object 3, which was intended for investment into research and product development. This amount will be distributed as ₹100 crore to Object 4, which focuses on expenditure for organic growth initiatives, and ₹475 crore to Object 6, aimed at repayment or prepayment of indebtedness incurred by the company and its subsidiaries.

The original allocation for Object 3 was ₹1,505 crore, with ₹695.10 crore remaining unutilised as of 11 March 2026. Following the proposed variation, the revised allocation for Object 3 will be ₹930 crore, with a balance of ₹120.10 crore remaining.

Object 4’s revised allocation will increase to ₹1,300.64 crore, with a balance of ₹372.46 crore, while Object 6’s allocation will rise to ₹870 crore, with a balance of ₹568.06 crore. The timeline for the utilisation of funds for Objects 4, 5, and 6 remains set for the fiscal year 2026-27.

The total amount raised from the IPO, excluding issue-related expenses, remains at ₹5,275.06 crore, with ₹1,292.86 crore unutilised. Including issue-related expenses, the total IPO proceeds amount to ₹5,500 crore, with ₹1,295.63 crore still unutilised.

Ola Electric Mobility will issue a notice to obtain shareholder approval for the proposed variations, and further details will be provided in the explanatory statement attached to the notice. The board meeting commenced at 5:00 PM IST and concluded at 5:30 PM IST.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Deepak Rastogi | Business Upturn

Ola Electric expands upgrade programme to over 150 cities after strong initial interest

Ola Electric Mobility revises IPO proceeds allocation with Rs 575 crore reallocated