Ola Electric has launched two new electric scooters Gig and S1 Z in the Indian market. The company introduced the two electric scooters in two variants each. This includes Ola Gig, Gig+, S1 Z and S1 Z+. Ola Gig was created with the aim of delivering goods locally. At the same time, Ola S1 Z is designed for personal and commercial use.
Both electric scooters have a standard 1.5 kWh removable battery. Ex-showroom prices of the electric scooters start at Rs 39,999. Deliveries of Ola Gig will begin in April 2025 and deliveries of S1 Z will begin in May 2025. In India, Ola Gig competes with slow-speed electric scooters like Komaki X1 and Avon E Scooter 504. At the same time, Ola S1 Z will compete with Yulu Win and Zelio Eva.
All ex-showroom prices are for the single battery variant.
Ola Gig and Gig+ Ola Gig is a barebones electric scooter. There is no infotainment panel or display. A single LED headlight is provided at the front. Ola Gig has been introduced in two variants – Gig and Gig+. It has a single seat and a storage rack in the back.
The standard Gig is a slow speed scooter. It has a 250-watt motor for performance, which comes with a single 1.5 kWh portable battery for charging. The company claims that the standard Gig travels 112 kilometers on a full charge and its top speed is 25 kilometers per hour.
At the same time, Gig+ has a front panel, an LCD screen and a single seat and a rear storage rack. The scooter is equipped with a 1.5 kilowatt motor for performance, which comes with a 1.5 kWh battery for charging, which can be expanded with another 1.5 kWh battery.
The company claims that Gig+ travels 81 kilometers on a single battery, while with two batteries it can travel up to 157 kilometers on a full charge. Its top speed is 45 km/h.
Ola S1 Z and S1 Z+ Ola has kept the design of the S1 Z quite simple. It is designed for personal and commercial use. A round LED light is provided in the electric scooter. It is available in two variants S1 Z and S1 Z+. The only difference between the two variants is the accessories. The standard S1 Z model has a double seat, while the S1 Z+ variant has a single seat with a front apron and a storage rack on the rear bench.
For performance in both variants, a hub motor with a power of 3 kW mounted on the rear wheel has been provided. The company claims that the scooter can accelerate from 0 to 40 km/h in just 4.7 seconds and its top speed is 70 km/h. It has 14-inch wheels for rolling. Apart from that, it has an LCD screen and smartphone connectivity.
To charge the battery, a single replaceable 1.5 kWh battery comes as standard, which can be expanded with another 1.5 kWh battery. With a single battery, the scooter will have a range of 75 kilometers, while with a double battery, its range will be 146 kilometers.
The company’s shares rose 20% after the launch of new electric scooters. Shares of Ola rose 20% today after the launch of new electric scooters. Shares of the company closed at Rs 88.10 with an upper circuit of 20%. Ola shares are up around 30% in the last 5 days.
Over the past month, the company’s shares have returned 13% to investors. The market capitalization of the company is Rs 36.78 thousand crore. The company’s shares were listed on the BSE-NSE stock exchange on August 9.
The initial public offering i.e. IPO of Ola Electric Mobility was opened on August 2 and closed on August 6. The company had raised ₹6,145.56 crore through this issue.
Ola Electric Mobility was established in 2017. Bangalore-based Ola Electric Mobility was established in 2017. The company mainly manufactures electric vehicles, batteries, motors and vehicle chassis at Ola Future’s factory . As of March 31, 2024, the company had 959 employees (907 permanent and 52 independent).