Ola Electric Shares Surge 9% Following Significant Price Cut for Roadster 9.1 Bike

Ola Electric Mobility Ltd Announces Sharp Price Cut for Flagship Electric Motorcycle

Shares of Ola Electric Mobility Ltd rallied on April 2, with the stock trading at Rs 28.19 on the BSE, up Rs 2.26 or 8.72%. This significant increase in stock value comes on the heels of the company's announcement of a sharp price cut for its flagship electric motorcycle, the Roadster X+ 9.1 kWh.

The price of the 4680 Bharat Cell-powered Roadster X+ 9.1 kWh has been reduced by Rs 60,000, bringing the new price down to Rs 1,29,999 from Rs 1,89,999. According to the company, this reduction is a direct result of rapid economies of scale at its Gigafactory and deep vertical integration of its indigenously developed battery technology. As cell production ramped up, cost efficiencies improved, allowing the company to pass on benefits directly to customers.

The company has also shifted its sales model for the Roadster X+ 9.1 kWh to a limited purchase window model. Units will be available in specific time-bound slots and quantities. The first purchase window will open on April 3 from 6:00 PM to 9:00 PM, with subsequent windows to be announced based on production availability. The motorcycle, which offers a claimed range of up to 500 km, has seen demand exceed current supply capacity.

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The company's business performance has been recovering, with Ola Electric recording over 150% month-on-month growth in registrations in March. The company reached 10,117 units, while daily orders crossed 1,000 units in the last week of the month, indicating improving demand momentum. This announcement comes amid a strong response to the company's #EndICEAge campaign, with bike demand growing more than 5X.