New Delhi: On Thursday, Ola Electric unveiled its highly anticipated ‘Roadster’ series, marking the company’s entry into the e-motorcycle market. The Roadster series offers three variants: Roadster, Roadster X, and Roadster Pro, each with sub-variants.
Pricing and Availability:
- The base model, the 2.5kWh Roadster, is priced at Rs 74,000.
- The mid-range 3.5kWh variant costs Rs 85,000.
- The top-tier 4.5kWh version is priced at Rs 99,000.
- Additionally, the Roadster Pro, equipped with a 6kWh battery, starts at Rs 1.39 lakhs.
- Deliveries for the Roadster Pro will begin during Diwali next year, while the Roadster X and Roadster will be available from January 2025.
Bhavish Aggarwal’s Vision:
- Bhavish Aggarwal, CEO of Ola Electric, expressed his vision during the company’s ‘Sankalp 2024‘ event. He emphasized Ola’s commitment to providing affordable, efficient, and accessible ride experiences across India.
- Aggarwal highlighted Ola Electric’s remarkable journey from a dream just three years ago to becoming the leading EV company in India and the world’s largest two-wheeler EV manufacturer. Globally, Ola Electric ranks fifth in terms of market capitalization among all EV companies.
Battery Technology Breakthrough:
- Aggarwal announced the development of the ‘BharatCell,’ a 4680 cell the first of its kind to be built in India. Ola Electric has filed over 70 patents for this innovative battery technology.
- The BharatCell will be integrated into Ola’s scooters by Q1 FY26, a significant milestone for the Indian EV industry.
Market Disruption and Challenges:
- Ola Electric’s move into the e-motorcycle segment aims to disrupt the market. Currently, e-motorcycles represent only a small fraction of overall bike sales in India.
- Last year, Ola unveiled four concept e-motorcycle models: Diamondhead, Adventure, Roadster, and Cruiser.
Financial Performance:
- Ola Electric recently went public, raising over Rs 6,000 crore through its IPO.
- Despite reporting a net loss of Rs 347 crore for Q2 (up from Rs 267 crore in the same period last year), the company’s revenue rose by 32 percent to Rs 1,644 crore.
- On August 14, Ola Electric’s shares experienced volatility, dropping over 7 percent before recovering to close 2.61 percent higher at Rs 110.99 on the NSE.
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