 "Ola Electric Roadster bike")
Ola Electric Roadster bike (X/Olaelectric)
Ola Electric on Thursday (August 15) introduced its first series of electric motorcycles, the ‘Roadster,’ with prices starting at Rs 74,999.
The new e-bikes will come in three distinct variants—Roadster, Roadster X, and Roadster Pro—each offering multiple sub-variants. According to CEO Bhavish Aggarwal, deliveries for the Roadster Pro will begin during Diwali next year, while the Roadster X and Roadster models are set to be available starting January 2025.
The launch follows nearly two weeks of anticipation, fueled by a teaser video shared by Bhavish Aggarwal, where he was seen riding the upcoming e-motorcycle. Ola Electric has since been actively engaging its audience on social media, heightening excitement for the release.
What is the price of Ola Electric’s Roadster bike?
The Roadster models are priced as follows: the 3.5kWh variant at Rs 1.04 lakhs, the 4.5kWh model at Rs 1.19 lakhs, and the 6kWh version at Rs 1.39 lakhs, with deliveries slated for Q4, reported Moneycontrol.
The Roadster X series is positioned as a more budget-friendly option, with the 2.5kWh model priced at Rs 74,000, the 3.5kWh at Rs 85,000, and the 4.5kWh at Rs 99,000.
During the launch event, Bhavish Aggarwal, Managing Director and Chairman of Ola Electric, outlined the company’s broader ambitions. He emphasised that Ola aims to deliver affordable and efficient ride experiences across India, stating, “Just three years ago, Ola Electric was merely an idea. Today, we are the leading EV company in the country and the largest two-wheeler EV manufacturer worldwide. Globally, we rank fifth in market capitalisation among EV companies.”
Aggarwal also highlighted Ola Electric’s strong performance, noting, “We are now the fourth-largest EV company in the world by revenue. The Indian consumer is ready to embrace the future, and we are making our Prime Minister’s vision of energy sustainability a reality. While Tesla leads in the West, Ola will lead the rest.”
New battery technology: The ‘BharatCell’
Aggarwal announced the development of Ola’s next-generation battery technology, known as the ‘BharatCell,’ the first cell to be manufactured in India, according to Moneycontrol. He revealed that over 70 patents have been filed for this 4680 cell, which will be integrated into Ola scooters by Q1 FY26. “Manufacturing this cell in India is the holy grail for the EV industry,” Aggarwal stated.
What are the challenges in the E-motorcycle segment?
Despite the company’s rapid growth, the e-motorcycle segment poses unique challenges, as these vehicles currently account for only a small portion of bike sales in India. Nevertheless, Ola Electric is poised to shake up the market with its new offerings.
Last month, reports emerged that Ola had decided to pause plans for an e-car, choosing instead to concentrate on its bike and scooter offerings.
Ola Electric’s financials
During its first board meeting post-listing on August 14, the company reported a net loss of Rs 347 crore for the quarter ending June 30, an increase from Rs 267 crore in the same quarter the previous year. Nevertheless, revenue grew by 32 percent to Rs 1,644 crore, up from Rs 1,243 crore a year ago.
Ola Electric successfully raised over Rs 6,000 crore through its IPO and made a strong market debut on August 9, with its stock surging 20 percent and hitting the upper circuit on August 12.
On August 14, following its recent IPO, shares of Ola Electric experienced some volatility, dropping over 7 percent in early trading due to profit booking. However, the stock recovered to close 2.61 percent higher at Rs 110.99 on the NSE.
First Published: Aug 15 2024 | 3:26 PM IST
