Ola Electric Mobility , India's largest pure-play EV company, has unveiled its 'Ola Celebrates India' campaign, offering electric vehicles at unprecedented prices starting from ₹49,999. The promotional campaign, dubbed 'Ola Muhurat Mahotsav', will run for nine days beginning September 23, with limited daily units available for purchase.

Campaign Details

The 'Ola Celebrates India' campaign is designed to make world-class electric vehicles more accessible to Indian households while honoring the country's cultural identity. As part of this initiative, Ola Electric is introducing significant price reductions on its popular models:

• S1 X 2kWh and Roadster X 2.5kW: Priced at ₹49,999
• S1 Pro+ 5.2kWh and Roadster X+ 9.1kWh: Priced at ₹99,999

Both the S1 Pro+ 5.2kWh and Roadster X+ 9.1kWh models come equipped with 4680 Bharat Cell battery packs, showcasing Ola's commitment to advanced battery technology.

Limited Availability and Muhurat Time-slots

To manage the expected high demand, Ola Electric will offer a limited number of units daily on a first-come, first-served basis. The company plans to announce specific 'Muhurat' time-slots for purchases on its social media handles each morning throughout the nine-day campaign.

Ola's Vision

An Ola Electric spokesperson emphasized the campaign's significance: "With Ola Celebrates India, we are bringing together progress, culture, and accessibility in a way that resonates with the spirit of this festive season. The Muhurat Mahotsav is not just about never-before prices - it's about making world-class EVs accessible to every Indian household, while celebrating our shared belief that India's modernity must be rooted in its own identity."

Extensive Product Portfolio

Ola Electric boasts an expansive range of electric scooters and motorcycles to cater to diverse consumer needs:

Future Innovations

At its recent annual 'Sankalp' event, Ola Electric announced new additions to its lineup:

• S1 Pro+ 5.2 kWh and Roadster X+ 9.1 kWh: Featuring integrated 4680 Bharat Cell technology, priced at ₹1,69,999 and ₹1,89,999 respectively, with deliveries starting this Navratri.
• S1 Pro Sport: A new entry into the sports scooter category, available in 5.2kWh and 4kWh variants, starting at an introductory price of ₹1,49,999, with deliveries commencing in January.

The 'Ola Celebrates India' campaign underscores Ola Electric's commitment to making electric mobility accessible to a broader range of Indian consumers while celebrating the country's cultural heritage and technological progress.

Ola Electric Mobility , a leading player in India's electric vehicle market, has seen its shares rally an impressive 40% over the past month. This surge comes on the back of favorable government policies, operational improvements, and growing optimism in the electric vehicle sector.

Policy Tailwinds Boost Investor Confidence

The company recently filed claims under the government's Production Linked Incentive (PLI) scheme for its Gen 3 scooter range. This move could potentially unlock incentives ranging from 13% to 18% on sales value until 2028, providing a significant boost to the company's bottom line.

In another positive development for the electric vehicle industry, the GST Council has decided to maintain the 5% GST rate on electric vehicles. This decision is likely to continue supporting the growth of the EV market in India.

Operational Improvements and Financial Performance

Ola Electric has demonstrated notable improvements in its financial performance:

• Gross margins increased to 25.60% from 13.80% in the previous quarter
• The company achieved positive EBITDA margins

These financial gains suggest that Ola Electric is making strides in operational efficiency and profitability.

Market Performance and Technical Analysis

Despite the recent rally, Ola Electric's stock remains down 33% year-to-date, indicating a volatile performance. The stock is currently trading above five out of eight key moving averages, with a Relative Strength Index (RSI) of 58.10.

Technical analysts offer mixed views on the stock's future performance:

• Some analysts view the consolidation above Rs 52-56 levels as a positive sign
• Others point to potential short-term correction signals

PLI Certification and Future Prospects

In a significant development, Ola Electric has secured PLI certification for its Gen-3 scooter portfolio. This certification not only validates the company's technological capabilities but also positions it to benefit from government incentives aimed at boosting domestic manufacturing in the EV sector.

As the electric vehicle market in India continues to evolve, Ola Electric's recent performance and strategic moves have caught the attention of investors. However, potential investors should consider both the positive momentum and the inherent volatility in the EV sector when making investment decisions.