Ola Electric gets govt nod for indigenous ferrite motor; shares slip over 2%

“This marks a breakthrough milestone that eliminates reliance on imported rare-earth motors with permanent magnets,” the company said in a regulatory filing.

The certification has been granted by the Global Automotive Research Centre, Tamil Nadu, after Ola Electric’s ferrite motor underwent performance verification and mandatory motor power tests as per AIS 041 that is notified by the Ministry of Road Transport, Government of India.

AIS 041 is an Automotive Industry Standard (AIS) issued by the Automotive Research Association of India under the Ministry of Road Transport and Highways.

The tests showed that the company's in-house developed ferrite motor's performance matched that of the motors with rare-earth permanent magnet motors in terms of net power for 7 kW and 11 kW variants, the Bengaluru-based company said.

“The ferrite motor delivers efficiency, performance, and durability on par with rare-earth permanent magnet motors, while dramatically lowering costs and de-risking supply chain fluctuations. The company first introduced its ferrite motor at its annual ‘Sankalp 2025’ event in August this year,” Ola Electric further said.

With this certification, the Bhavish Agarwal-led firm will begin integrating the ferrite motor across its product lineup, further enhancing performance, affordability, and sustainability for millions of Indian consumers.

Ola Electric Mobility Limited is an EV manufacturer which specialises in the vertical integration of technology and manufacturing for EVs and their components, including battery cells.

Last week, the company’s unit had received approval from the board as well as shareholders to raise ₹878 crore by issuing preference shares.

On Monday, Ola Electric shares slipped 4% to hit an intraday low of ₹51.90 apiece on the National Stock Exchange. At 2:35 PM, the stock was trading at ₹52.73 apiece, declining 2.33%.

In the last five trading sessions, shares of Ola have fallen over 2%, while for a month’s time, they have lost more than 12%. Since the beginning of the year, it has tumbled almost 39%.

Its market capitalisation stands at ₹23,298 crore.