Ola Electric Commences Manufacturing the "Roadster" Electric Bike
The manufacture of Ola Electric's "Roadster" electric bike, which the business unveiled in August of last year, has begun. Ola would like to notify its consumers that the firm has begun the assembly line of its future bike today, January 20, 2025, according to an exchange filing. Bhavish Aggarwal, the founder and CEO of Ola Electric, uploaded a video on X of himself riding the new electric bike at the company's facility a day later on January 21. "Excited after riding the @OlaElectric Roadster!" was his caption for the video. I can't wait for everyone to have this experience! In the footage, Aggarwal and a pillion rider were seen speeding through the company's plant's hallways. The company also displayed the electric bike at the Bharat Mobility Expo 2025 earlier this month, along with its other products, the Ola Gig and Ola S1 Z. Production has started more than five months after the listed firm unveiled "The Roadster Series" at its annual event on Independence Day last year.
Future Roadmap of Ola Electric
With prices starting at INR 74,999, the business announced the release of three new motorcycles under the Roadster X, Roadster, and Roadster Pro series. The bike in the video is probably a Roadster, which has a 13 kW maximum motor output and is available with 3.5 kWh, 4.5 kWh, or 6 kWh of battery. With a top speed of 126 km/h and a range of 248 km, the Roadster variant will cost between INR 1,04,999 and INR 1,39,999. When introducing its line of e-bikes, Ola Electric stated that the Roadster X and Roadster would start to be delivered in Q4 of FY25. The development coincides with the EV major's recent months-long efforts to put out fires on several fronts. The Central Consumer Protection Authority (CCPA) is now investigating Ola Electric for alleged service and delivery delays, sales of defective vehicles, and other customer complaints.
Ola Electric Navigating Through Troubled Waters
The plea to revoke the CCPA's notice was denied by the Karnataka High Court (HC) earlier this month. In addition, earlier this month, SEBI, the market watchdog, slapped the original equipment manufacturer (OEM) for breaking disclosure guidelines. Ola Electric's stock has been declining as a result of the negative media coverage. The year-to-date (YTD) decline in the company's shares is above 11%. The company led by Bhavish Aggarwal was able to reduce its consolidated net loss from INR 524 Cr in the previous quarter to INR 495 Cr in Q2 FY25, a 5.5% decrease. In the meantime, operational revenue increased by over 39% to INR 1,214 Cr in the reviewed quarter from INR 873 Cr in the second quarter of FY24. On the BSE, Ola Electric's shares closed Tuesday's trading session 0.2% lower at INR 76.24.
Nitin Konde
