Ola Electric Shares Surge After Launch of New Scooters and PowerPod

27 Nov 2024 , 11:19 PM

Ola Electric stocks jumped by 8% on 27 November as the firm launched new scooters and entered the commercial vehicle market. The stock price on NSE had risen to ₹78.96, thus marking a 19% recovery from the 52-week low marked on November 22.

Ola Electric launched two new ranges of scooters: Gig series and S1 Z series, which are available in the price range of ₹39,999 and ₹64,999 respectively. The Gig series, for the gig workers, comes in two variants: Gig priced at ₹39,999 and Gig+ priced at ₹49,999, ex-showroom.

S1 Z is targeted for urban commuters. The price of S1 Z starts at ₹59,999. It is for the young professional, students, women, and elderly riders. The S1 Z+ variant is for personal as well as commercial users that includes e-commerce partners, delivery personnel, and small business owners.

Ola PowerPod, starting at ₹9,999, was also announced as an inverter that uses Ola’s portable batteries to power small home appliances, lights, and fans.

PowerPod has a 1.5kWh battery with a 500W output, giving 3 hours of backup for critical household appliances. Gig and S1 Z scooter booking starts at ₹499; deliveries will be done between April and May 2025.

Founder Bhavish Aggarwal said that the portable batteries and PowerPods make the energy more efficient and allow for flexibility in both mobility and household usage.