Ola Electric share price rises over 13% on launch of S1 Z and Gig range e-scooters

The stock was trading at ₹83.15 apiece, up 12.25%, on the NSE. The market capitalisation of the company stands at ₹36,742.21 crore.

On the BSE, the scrip gained 12.63% to ₹82.75 a unit.

Ola launches S1 Z and Gig scooters

Ola Electric said in a statement that the Gig range will be available for business-to-business (B2B) purchases and rentals.

The 'Gig' scooter can cover up to 112 km on a single charge. Its top speed is 25 kmph, and its 1.5 kWh battery is removable.

'Gig+' can travel longer distances with heavier payloads. It offers a top speed of 45 km/hr and a removable 1.5 kWh single/dual battery with a range of 81 km.

Bhavish Aggarwal, Chairman and Managing Director of Ola Electric, said, "With the launch of the Ola Gig and S1 Z range of scooters, we will further accelerate EV adoption, catering to a wide range of personal and commercial use cases with affordability, reliability, and safety as the core pillars."

He added, "The new range of our scooters also features portable batteries that can double up as an inverter using the Ola PowerPod and power home appliances allowing for more efficient use of our batteries. With Ola Gig and Ola S1 Z scooters, and our existing EV portfolio, we are strongly positioned to take India closer to #EndICEAge."

The ev-manufacturer also launched the Ola S1 Z and S1 Z+ models priced at ₹59,999 and ₹64,999, respectively. Both scooters come with removable 1.5 kWh dual batteries, each with a 75 km range and a top speed of 70 mph.