Ola Electric Mobility shares soar nearly 61% in April so far: Here’s what is driving the rally

Shares of Ola Electric Mobility have rallied 60.5% so far since the beginning of April. The stock has been in the limelight for some time and hit the upper circuit in the last session.

On Friday, Ola Electric Mobility shares surged 9% to touch an intraday high of ₹39.50 apiece. At 11 AM, the stock was trading at ₹38.74 per share on the National Stock Exchange, gaining 6.66%.

Shares of the firm have surged 28% over the past five days, while they declined 23% in the last six months. On a year-to-date basis, shares of Ola Electric rose 2.05%.

The company has a total market capitalisation of ₹16,889.07 crore, according to data on the NSE.

Here are some recent updates about Ola Electric

In-house LFP cell

On April 7, Ola Electric, in a regulatory filing, announced the readiness of its in-house developed lithium iron phosphate (LFP) cell, which it claimed is a key milestone in its mission to boost electric mobility and build a full-stack energy ecosystem.

The new 46100-format LFP cell, which is developed as part of Ola’s vertically integrated battery innovation efforts, is bigger than the current NMC 4680 Bharat Cell. It represents a step change in scale, applicability and cost efficiency across both mobility and energy storage solutions and will be used in Ola’s products starting next quarter, the company said.

Daily orders crossing 1,000 units

The Bhavish Agarwal-led company’s registrations surged to 10,117 units in March (as per VAHAN), up from 3,973 units in February, translating to over 150% month-on-month (MoM) growth, signalling a sharp resurgence in demand momentum.

Ola Electric in a statement had said that the market share also witnessed a V-shaped MoM recovery, with the company continuing to gain share through the month. This demand recovery is being driven by a structural transformation in service operations.

During March, Ola Electric also became the first EV brand in India to cross 1 million cumulative registrations (as per VAHAN data), marking a historic milestone for the company and a defining moment for India’s EV ecosystem.

Same-day service

Ola Electric said over 80% of its vehicles are now serviced on the same day, supported by improved parts availability, faster diagnostics, and tighter operational control across its network. The company further added that, following recent service challenges, it has undertaken deep operational changes that have significantly improved turnaround times and customer experience, helping strengthen customer trust and drive demand.

PLI certification for Roadster X+ 4.5 kWh

In a regulatory filing on April 3, the Bengaluru-based firm said it has received the certification for compliance with the eligibility assessment requirements under the Production Linked Incentive (PLI) Scheme for its Roadster X+ 11 kW 4.5 kWh from the Global Automotive Research Centre (GARC) under the Production Linked Incentive Scheme for Automobiles and Auto Components (PLI-Auto Scheme).

Ola Electric Mobility said the Roadster X+ 4.5 kWh has become the first motorcycle in its Roadster portfolio to receive PLI certification, marking a significant milestone in its expansion into the electric motorcycle segment.