Ola Electric Regains Top Position In EV 2W Market With 25% Share; Stock Surges Over 13% – News18
Last Updated:
Ola Electric Mobility’s shares surged by 13 percent intraday on January 31, briefly exceeding its IPO price of Rs 76
Ola Electric Scooter. (File photo)
Ola Electric: Ola Electric Mobility’s shares surged by 13 percent intraday on January 31, briefly exceeding its IPO price of Rs 76, following the company’s gain in market share in January, which helped it reclaim the leading position in the electric two-wheeler segment.
This growth is driven by Ola’s strong S1 portfolio and the expansion of its sales and service network, which now includes 4,000 stores nationwide. The company’s rapid rise is also attributed to its upcoming Gen 3 platform, which will underpin the S1 series.
With the Gen 3 platform, Ola aims to enhance performance, safety, efficiency, and reliability, while also boosting gross margins by 20 percentage points in the next 12 months. Bhavish Aggarwal, CMD of Ola Electric, emphasized that the new platform would significantly improve reliability, quality, and serviceability, with one major change being the adoption of mid-mount motors across the entire range.
Investors are also eagerly waiting for the company’s Q3 earnings report, the date of which is yet to be announced.
Ola Electric Mobility had made its stock market debut last year and within a few days of listing, the stock had doubled from its IPO price, hitting a record high of Rs 157.40 before profit booking took over the counter. As of today, the stock is trading over 51 per cent off its record high.