Shares of Ola Electric Mobility Ltd surged 20 per cent on Wednesday after it announced its entry into the commercial sector with the launch of ‘Gig’ range of scooters.
The stock jumped 19.99 per cent to close at Rs 88.16 – its upper circuit limit – on the BSE.
On the NSE, it rose 19.99 per cent to Rs 88.10 – the highest trading permissible limit for the day.
Ola Electric on Tuesday announced its entry into the commercial sector with the launch of ‘Gig’ range of scooters with a starting price of Rs 39,999, targeting gig workers.
The company also launched its S1 Z model, a personal-use electric scooter for urban commuters, priced at Rs 59,999.
The Gig range is designed to cater to the needs of gig workers involved in short and long trips through two variants – ‘Gig’ and ‘Gig+’, with prices starting at Rs 39,999 and Rs 49,999 (ex-showroom) respectively. ) Are. ,
Ola Electric said in a statement that the range will be available for business-to-business (B2B) purchase and rental.
‘Gig’ is aimed at gig workers involved in short trips. It offers a range of 112 km on a single charge with a top speed of 25 kmph.
‘Gig+’, on the other hand, is designed for those traveling long distances with heavy payloads. It comes with a top speed of 45 km/h and a range of 81 km with a 1.5 kWh removable single/dual battery, the company said.
President and Chairman of Ola Electric and said, “With the launch of Ola Gig and S1 Z range of scooters, we will further accelerate the adoption of EVs, catering to a wide range of personal and business use cases with affordability, reliability and safety.” Will complete as main pillars.” Managing Director Bhavish Aggarwal said.
