BENGALURU: On Thursday, August 15, Ola Electric launched its first series of electric motorcycles, the ‘Roadster,’ with prices starting at Rs74,999.
The lineup includes three distinct models—Roadster, Roadster X, and Roadster Pro—each offering various 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 scheduled for availability starting January 2025.
The launch followed nearly two weeks of growing anticipation, spurred by a teaser video shared by Bhavish Aggarwal, in which he was seen riding the new e-motorcycle. Ola Electric has since maintained an active presence on social media, further building excitement for the Roadster’s release.
Ambitious goals
The Roadster models are priced as follows: the 3.5kWh variant at Rs1.04 lakh, the 4.5kWh model at Rs1.19 lakh, and the 6kWh version at Rs1.39 lakh, with deliveries expected in Q4, according to reports.
The Roadster X series is designed as a more budget-friendly option, with the 2.5kWh model priced at Rs74,000, the 3.5kWh at Rs85,000, and the 4.5kWh at Rs99,000.
During the launch event, Bhavish Aggarwal, Managing Director and Chairman of Ola Electric, outlined the company’s ambitious goals. He highlighted Ola’s rapid ascent, noting, “Just three years ago, Ola Electric was an idea. Today, we are India’s leading EV company and the world’s largest two-wheeler EV manufacturer. Globally, we rank fifth in market capitalisation among EV companies.”
To develop next-gen battery
Aggarwal also emphasised Ola Electric’s strong financial performance, stating, “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 turning our Prime Minister’s vision of energy sustainability into reality. While Tesla leads in the West, Ola will lead the rest.”
Aggarwal announced the development of Ola’s next-generation battery technology, the ‘BharatCell,’ which will be the first cell to be manufactured in India. He revealed that over 70 patents have been filed for this 4680 cell, which is expected to be integrated into Ola scooters by Q1 FY26.
“Manufacturing this cell in India is the holy grail for the EV industry,” Aggarwal remarked.
Despite the company’s rapid growth, the e-motorcycle segment presents unique challenges, as these vehicles currently make up only a small portion of bike sales in India. Nonetheless, Ola Electric is set to disrupt the market with its new offerings.
Last month, reports indicated that Ola had decided to pause its plans for an e-car to focus on its bike and scooter lineup.
Rs347cr net loss in Q1 of FY25
In its first board meeting after going public on August 14, the company reported a net loss of Rs347 crore for the quarter ending June 30, up from Rs267 crore in the same period the previous year. However, revenue grew by 32 per cent to Rs1,644 crore, up from Rs1,243 crore a year ago.
Ola Electric successfully raised over Rs6,000 crore through its IPO and made a strong market debut on August 9, with its stock surging 20 per cent and hitting the upper circuit on August 12.
On August 14, following its recent IPO, Ola Electric shares experienced some volatility, dropping over 7 per cent in early trading due to profit booking. However, the stock rebounded to close 2.61 percent higher at Rs110.99 on the NSE.
Discover more from Businessbenchmark News
Subscribe to get the latest posts sent to your email.
