Ola Electric shares, which are facing a tough year, posted smart gains of over 3% on Tuesday, December 30, following the announcement of government certification for its 4680 Bharat Cell Powered Roadster X+ Motorcycle.
The Roadster
“With this certification, Ola Electric will now begin deliveries of the Roadster
An Ola Electric spokesperson said that with the Roadster “This is a defining step towards accelerating EV adoption in India’s motorcycle-dominated 2W market.”
The certification has been issued following rigorous vehicle-level safety, electrical, performance, and environmental testing, as notified by the Ministry of Road Transport and Highways (MoRTH) for certification of Battery Operated Vehicles (BoV) in the electric two-wheeler category, the company said.
Ola scales up deliveries of 4680 Bharat Cell Powered Vehicles
In another update, Ola Electric on Sunday announced the scale-up of its 4680 Bharat Cell-powered S1 Pro+ (5.2 kWh) across Tamil Nadu, Kerala, Telangana and Karnataka.
“With its own 4680 Bharat Cell battery packs in the vehicles, Ola Electric is now India’s first company to fully own the cell and battery pack manufacturing process in-house, marking a major milestone in building a fully integrated EV ecosystem in India,” Ola had announced.
Ola Electric Share Price Trend
Ola Electric share price jumped as much as 3.8% to the day’s high of 36.78, as against its last closing price of 35.43. The stock closed 3% higher at 36.59.
Despite this gain, Ola Electric shares have had a tough time, shedding 58% on a year-to-date (YTD) basis.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
