Ola Electric Mobility , India's leading electric vehicle (EV) manufacturer, reported mixed financial results, showing profitability in its auto business for Q2 FY26 while also disclosing an overall loss for a previous quarter. The company has also made key appointments and financial decisions.

Financial Performance

For Q2 FY26, Ola Electric reported:

• Positive EBITDA of 0.30% in the auto business, compared to -5.30% in Q1 FY26
• Auto gross margins expanded to 30.70%, up 510 basis points sequentially
• Consolidated revenue of ₹690.00 crores
• Total deliveries of 52,666 vehicles

For a previous quarter ended September 30, the company reported:

For the six-month period in the previous financial year, revenue was ₹2,428.00 crore with a net loss of ₹935.00 crore.

Operational Highlights and Future Outlook

• Launched Ola S1fea, India's first residential Battery Energy Storage System using in-house 4680 Bharat Cells
• Expects ₹100.00 crores revenue from S1fea in Q4 FY26 and ₹1,000.00-1,200.00 crores in FY27
• Commissioned 2.5 GWh cell manufacturing capacity, becoming India's first operational facility at gigawatt scale
• Roadster sales grew 4x from Q1, representing about 15% of overall sales
• Launched HyperService to improve customer experience and unlock parts revenue opportunities
• Targets approximately 100,000 auto deliveries for H2 FY26
• Expects FY26 consolidated revenue of ₹3,000.00-3,200.00 crores

Key Appointments and Decisions

• Ola Electric's Board approved the appointment of PricewaterhouseCoopers Services LLP as Internal Auditors for the financial year
• The Board previously approved raising funds up to ₹1,700.00 crore through debt securities and up to ₹1,500.00 crore through equity instruments

Market Performance and Financial Strategy

• The company maintains negative cash flow from operations of ₹343.00 crore for the six months in the previous period
• Management believes the company can continue as a going concern based on available cash balances, expected future operating cash flows, available credit limits, and ability to raise borrowings
• The trading window for company securities will reopen 48 hours after the declaration of financial results

As Ola Electric navigates through its financial challenges and growth opportunities, the company's efforts in fundraising, strategic appointments, and new product launches may position it for future growth. The recent profitability in its auto business marks a significant milestone. Investors and industry observers will be watching closely to see how these initiatives translate into improved overall financial performance and market position in the coming quarters.

Ola Electric Mobility , a leading player in India's electric vehicle (EV) market, has taken a significant step forward in its product lineup by commencing deliveries of its latest offering, the S1 Pro+ electric scooter. This new model is equipped with the advanced 4680 Bharat Cell technology, marking a milestone in the company's journey towards indigenous EV manufacturing.

Cutting-Edge Technology

The S1 Pro+ (5.2kWh) is the first product from Ola Electric to feature the indigenously manufactured 4680 Bharat Cell battery pack. This technology promises to deliver enhanced performance in three key areas:

1. Increased range
2. Improved overall performance
3. Enhanced safety features

Performance Specifications

The S1 Pro+ boasts impressive specifications that set it apart in the electric scooter market:

Enhanced User Experience

Ola Electric has also focused on improving the rider's comfort and style with the S1 Pro+:

• Two-tone seat with supportive foam
• Body-colored mirrors
• New die-cast aluminium grab handle
• Rim decals
• Expanded color palette including Passion Red, Porcelain White, Industrial Silver, Jet Black, Stellar Blue, and Midnight Blue

Pricing and Availability

The S1 Pro+ is now available for delivery, with the 5.2kWh version priced at ₹1,90,338.00 and the 4kWh configuration at ₹1,70,338.00.

Strategic Importance

This launch is not just a product release but a strategic move for Ola Electric. By manufacturing its own battery packs and cells, the company is positioning itself as a pioneer in India's EV industry. An Ola Electric spokesperson emphasized the significance of this development:

"With deliveries of 4680 Bharat Cell powered vehicles underway, we are taking a giant leap towards achieving true energy independence. This milestone is not just about the 4680 Bharat Cell, it's about India owning the future of energy and mobility."

Broader Impact

The introduction of the S1 Pro+ with 4680 Bharat Cell technology represents a significant step towards India's goal of energy independence in the EV sector. It showcases the country's growing capability in advanced manufacturing and could potentially influence the broader EV market in India and beyond.

As Ola Electric continues to expand its product portfolio and technological capabilities, it will be interesting to observe how this impacts the competitive landscape of the Indian EV market and contributes to the country's transition towards sustainable transportation solutions.