Ola Electric Mobility shares surge 5% on buzz over Niti Aayog meet to push EV adoption

Ola Electric Mobility shares are up nearly 20 percent over the last week.

Shares of Ola Electric Mobility gained 5 percent on Monday, touching an intraday high of Rs 49.40 after reports that the government’s policy think-tank Niti Aayog has convened a meeting with leading two-wheeler makers to fast-track the electrification of motorcycles.

Executives from Hero MotoCorp, Bajaj Auto, TVS Motor, Ola Electric, Ather Energy and Revolt are expected to join the deliberations, a Hindu Businessline report stated. The discussions will focus on measures to drive adoption of electric motorcycles, a segment that makes up two-thirds of India’s two-wheeler sales.

Follow our LIVE blog for all the latest market updates

Government estimates suggest electric scooters could account for as much as 80 percent of sales by 2030, but motorcycles may still only reach 10 percent, dragging overall two-wheeler electrification to around 36 percent—well short of policy ambitions.

Officials are expected to explore strategies such as scaling up production, reducing upfront costs, battery-swapping models and innovative financing options to make EV motorcycles more affordable and competitive, the report added.

The meeting comes at a time when Ola Electric founder Bhavish Aggarwal has reiterated the company’s aim of cornering 25–30 percent share of the domestic two-wheeler EV market, backed by vertical integration and new launches. “Our mojo is still there,” Aggarwal said last week, adding that profitability would remain high as volumes scale.

Investor sentiment has also been supported in recent sessions by expectations of a possible GST cut on entry-level two-wheelers, compact cars and hybrids.

At about 1:15 pm, shares of the company were up at Rs 48.35, higher by 2.5 percent from the last close on the NSE. Ola Electric Mobility shares are up nearly 20 percent over the last week.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.