Ola Electric founder and CEO Bhavish Aggarwal published a video of him riding the new electric bike at the company’s facility
The commencement of the production comes five months after the listed giant unveiled its electric motorcycle portfolio on the Independence Day last year
Ola Electric managed to narrow its consolidated net loss by 5.5% YoY to INR 495 Cr in Q2 FY25, while operating revenue jumped almost 39% YoY to INR 1,214 Cr
EV maker Ola Electric has kicked off the production of its ‘Roadster’ electric bike, which the company unveiled in August last year.
In an exchange filing, the company said, “… we would like to inform you that the company has started the assembly line of its upcoming bike today i.e. January 20, 2025.”
A day later on Tuesday (January 21), Ola Electric founder and CEO Bhavish Aggarwal posted a video of him, on X, riding the new electric bike at the company’s facility. He captioned the video, “Exhilarated after riding the @OlaElectric Roadster! Can’t wait for you all to experience!”
The video showed Aggarwal zooming through the corridors of the company’s plant along with a pillion rider.
Earlier this month, the company also showcased the electric bike, along with its other offerings – Ola Gig and Ola S1 Z, at the Bharat Mobility Expo 2025.
The commencement of production comes over five months after the listed giant, during its annual event on Independence Day last year, unveiled ‘The Roadster Series’.
At the time, the company announced the launch of three new bikes under the series, Roadster X, Roadster, and Roadster Pro, starting from INR 74,999. The bike, in the video, is likely a Roadster, which will have a peak motor output of 13 kW and will come in 3.5 kWh, 4.5 kWh, and 6 kWh battery variants. The Roadster model will be priced between INR 1,04,999 and INR 1,39,999, and will have a top speed of 126 km/hour and a range of 248 kms.
Ola Electric, while unveiling the ebike portfolio, said it would begin the deliveries of Roadster X and Roadster in Q4 FY25.
The development comes at a time when the EV major has been trying to douse fires on multiple fronts for the past few months. Ola Electric is currently being probed by the Central Consumer Protection Authority (CCPA) over alleged delays in providing service and deliveries, defective vehicle sales, and other customer complaints.
Earlier this month, the Karnataka High Court (HC) rejected its petition to quash the notice issued by the CCPA. Not just this, the original equipment manufacturer (OEM) also received a rap from markets regulator SEBI earlier this month for violating disclosure norms.
Owing to the negative press, Ola Electric’s stock has been on a downward spiral. The company’s stock is down more than 11% on a year-to-date (YTD) basis.
The Bhavish Aggarwal-led company managed to narrow its consolidated net loss by 5.5% to INR 495 Cr in Q2 FY25 from INR 524 Cr in the year-ago quarter. Meanwhile, operating revenue zoomed almost 39% to INR 1,214 Cr during the quarter under review from INR 873 Cr posted in Q2 FY24.
Shares of Ola Electric ended Tuesday’s trading session 0.2% lower at INR 76.24 on the BSE.
Comments are closed.