Ola Electric shares jump over 7%; company starts deliveries of electric motorcycles under Roadster X portfolio

The prices of the Roadster X series start at ₹99,999 for the 2.5 kWh variant, ₹1,09,999 for the 3.5 kWh variant, and ₹1,24,999 for the 4.5 kWh model, the company said in a statement. Roadster X+ 4.5 kWh is priced at ₹1,29,999, while the Roadster X+ 9.1 kWh (with 4680 Bharat Cell), which has a range of 501 km/charge, is priced at ₹1,99,999, it added.

"The Roadster X is a bold leap, marking our entry into the motorcycling segment. The Roadster X is designed, engineered, and built in India for a generation that wants to ride the bike of the future," Ola Electric Chairman and MD Bhavish Aggarwal said.

With deliveries starting today, the Roadster X would unlock the true potential of EVs in the two-wheeler category, accelerating EV adoption and penetration, he added.

Ola Electric said the first 5,000 customers will get offers worth Rs 10,000, which includes extended warranty, MoveOS+, and essential care free as part of its 'Ride the Future' campaign.

At the time of writing this article, the stock was trading at ₹53.38 on the BSE, up 3.65%.

Besides, on Thursday, the company informed stock exchanges that its board has given a green light to raise ₹1,700 crore. The capital will be secured through a private placement of non-convertible debentures (NCDs) or similar instruments, rolled out in phases.

This marks its first major fundraising effort since its IPO and the subsequent listing on the bourses.

About Ola Electric Mobility

Founded in 2017, Ola Electric Mobility Limited is an electric vehicle company that primarily manufactures electric vehicles and core components for electric vehicles. These components include battery packs, motors, and vehicle frames.

Ola Electric operates a business model based on the production and distribution of electric two-wheelers, as well as the development of a charging infrastructure for these vehicles. The company aims to promote sustainable transportation solutions in India and other markets through the use of electric vehicles.