Ola Electric reclaims pole position in EVs, launches Gen 3 platform; shares soar 14%

Shares of Ola Electric rose 14% in intraday trade on Friday after the electric two-wheeler maker emerged as the leading player in the EV market, overtaking Bajaj Auto and TVS Motor Company which were ahead of the new-age firm in December 2024.

The Bhavish Aggarwal-led company also launched 8 new scooters across mass and premium segments under its S1 Gen 3 portfolio. “Over the Gen 2, Gen 3 offers 20% increase in peak power, 11% reduction in cost, and 20% increase in range,” claims the automaker.

The launch of the 3rd generation platform comes after sales of Ola Electric hit the lowest in 27 months in December 2024. However, Ola has clocked retail sales of 22,656 units in January 2025, according to Vahan data as of January 31. This makes Ola Electric India’s top-selling electric scooter maker, once again. Meanwhile, TVS Motor Company’s EV registrations stood at 22,080 units, ahead of 20,176 units retailed by Bajaj Auto. IPO-bound EV startup Ather Energy witnessed 12,101 registrations in January.

Ola Electric’s Gen 3 portfolio starts at ₹79,999 for S1 X (2kWh) and goes up to ₹1,69,999 for the S1 Pro+ 5.3kWh (introductory prices). Headlining the Gen 3 portfolio is the flagship S1 Pro+ 5.3kWh (with 4680 Bharat Cell), and 4kWh priced at ₹1,69,999, and ₹1,54,999, respectively. The S1 Pro, available in 4kWh and 3kWh battery options, is priced at ₹1,34,999 and ₹1,14,999, respectively. The S1 X range is priced at ₹79,999 for 2kWh, ₹89,999 for 3kWh, and ₹99,999 for 4kWh, with S1 X+ available with the 4kWh battery and priced at ₹1,07,999. Along with the latest Gen 3 S1 scooters, the company announced to continue to retail its Gen 2 scooters at discounts of up to ₹35,000, with S1 Pro, S1 X (2kWh, 3kWh, and 4kWh) now starting at ₹1,14,999, ₹69,999, ₹79,999, and ₹89,999, respectively.

“The Gen 3 platform also introduces the category-first dual ABS (Anti-lock Braking System), and brake-by-wire technology for EV scooters which applies brakes based on the brake position sensor and dynamically modulates the type of braking between regenerative and mechanical braking,” the EV maker claims.

“With our first generation of scooters we offered customers a truly aspirational electric scooter that kickstarted the EV revolution in the country. With Gen 2, we made our scooters smarter, and more accessible by expanding our portfolio with scooters for every Indian across every price range. Today, with Gen 3, we are taking the EV 2W industry to the ‘Next Level’. Gen 3 is bringing unmatched performance, superior efficiency and reinventing benchmarks we set for ourselves, and which will change the industry all over again,” says Bhavish Aggarwal, Chairman & Managing Director, Ola Electric.