Ola Electric shares soar 8.5%; here is why the stock is rallying today

Ola Electric Head of Research and Development Rajesh Mekkat said the 4680 Bharat cell comes with over 15 years of battery life, 5x the capacity of the competition and provides 80% charging within 15 minutes.

Ola Electric is also targeting a 25–30% share of India’s two-wheeler EV market, supported by vertical integration and new product launches, the CEO said in the interview.

On sourcing raw material for electrode rolls, he said China is one main source, but increasingly, Japan and Korea are also becoming key sources.

Aggarwal further said that Ola’s motorbike has had very strong reception across the country. “We are scaling it up in a phased way, not one large bang across the country. So, we launched in 200 stores and are now scaling it across the country by Navratri. We are announcing a couple of new products in the scooter, as well as a moonshot bike.”

Ola has commenced development of ferrite motor technology in the Tamil Nadu plant that would replace the use of rare earth magnets, used in the development of its products.

Last week, the company also launched a new scooter, the Ola Pro Sport scooter equipped with the Bharat Cell. Along with it, Ola had also launched the Ferrite Motor technology, an alternative to rare earth magnets, used in the development of electric vehicles.

Ola Electric's Head of Vehicle Engineering, Samraj Dhinakar, said ferrite motors would become an alternative technology for rare earth magnets in the future.

After unveiling the prototype electric motorcycle Diamond Head, the CEO said his company expects to price it under ₹5 lakh, and the vehicle will have a host of features, including self-driving technology (remote summon). It can achieve a speed of 0-100 in 2 seconds.

"We want to change the face of (electric) two-wheelers forever. With Diamond Head, a rider becomes the ride. It will be the most amazing performance bike in the world. We are planning to launch it in mid-2027 and have targeted to price it under ₹5 lakh," he said.

Last seen, shares of Ola Electric were trading at ₹44.27 apiece, up 7.35% on the National Stock Exchange.