Ola Electric's Stock Climbs 3.5% Following Certification of S1 X+ Scooter by Government Authorities

Ola Electric Shares Rise as S1 X+ 5.2 kWh Electric Scooter Receives Government Certification

On May 8, Ola Electric shares surged 3.5% to Rs 36.37 apiece, reaching a high point of 1:20 pm. The significant increase in share value is attributed to the company's announcement that its mass market electric scooter, the S1 X+ 5.2 kWh, has been approved under the Central Motor Vehicle Rules (CMVR), 1989 by the International Centre for Automotive Technology (ICAT), Manesar, a government-certified testing agency.

The S1 X+ 5.2 kWh, powered by Ola Electric's indigenously developed 4680 Bharat Cell battery pack, has achieved the longest range in the company's mass market scooter portfolio, boasting a 320 km IDC range and a top speed of 125 km/h. The scooter features an 11 kW mid-drive motor with integrated MCU, making it an attractive option for customers seeking a practical and accessible electric vehicle for long-distance commuting.

The government certification of the S1 X+ 5.2 kWh marks a significant milestone in Ola Electric's efforts to bring high-performance EV technology to a wider set of customers across the country. The company's in-house developed 4680 Bharat Cell technology has enabled the scooter to deliver a strong combination of range, performance, safety, and reliability, making EVs a practical choice for customers beyond urban centres.

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| Comparison of S1 X+ 5.2 kWh with Ola Electric's Mass Market Scooter Portfolio | | --- | --- | | Range | 320 km (IDC) | | Top Speed | 125 km/h | | Battery Pack | 4680 Bharat Cell | | Motor | 11 kW mid-drive motor with integrated MCU |

Ola Electric's mass market scooter portfolio now boasts a product that addresses key barriers to EV adoption, including range and affordability. By combining these factors, the S1 X+ 5.2 kWh is poised to accelerate EV adoption beyond metros and into the heart of the country.