Ola Electric launches e-motorcycle series 'Roadster' starting at Rs 74,999

The company currently offers four e-scooter models: the Ola S1, S1 Pro, S1 Air, and the mass-market S1X.

Ola Electric on Thursday launched the 'Roadster' series, its first set of e-motorcycles, at a starting price of Rs 74,999.

The e-bikes will be available in three variants — Roadster, Roadster X, and Roadster Pro — each of which will have sub-variants.

CEO Bhavish Aggarwal, at the company's ‘Sankalp 2024’ event, said that the delivery of the Roadster Pro will begin in Diwali next year while the Roadster X and Roadster will be available from January 2025.

The 3.5kWh variant is priced at Rs 1.04 lakhs, the 4.5kWh model at Rs 1.19 lakhs, and the 6kWh version at Rs 1.39 lakhs, with deliveries scheduled to begin in Q4. The Roadster X series offers a more budget-friendly range: the 2.5kWh model is priced at Rs 74,000, the 3.5kWh at Rs 85,000, and the 4.5kWh at Rs 99,000.

In Photos: Ola Electric launches e-motorcycle series 'Roadster'; Check price, features & more

During the launch, Bhavish Aggarwal, MD and Chairman of Ola Electric stated, "Today, we will reveal the future of our business across three companies and three distinct segments. Our ambition for the Ola Consumer business is to provide affordable, efficient, and accessible ride experiences across India. Just three years ago, Ola Electric was merely a dream. Today, we have become the leading EV company in the country and the largest two-wheeler EV manufacturer in the world. In fact, among all EV companies globally, we now rank as the fifth largest concerning the market capitalisation."

Bhavish Aggarwal also stated, "In terms of revenue, we are now the fourth-largest EV company in the world. Never underestimate the Indian consumer; they are eager to embrace the future and be a part of it. We are turning our PM's vision for energy sustainability into a reality. Tesla is for the west, Ola is for the rest."

Bhavish Aggarwal also announced, "We're developing the next generation of battery technology with our 4680 cell, which we're proudly calling the 'BharatCell'—the first cell to be built in India. We've filed over 70 patents for this 4680 cell, and it will be integrated into our scooters by Q1 FY26. Manufacturing this cell in India is the holy grail for the EV industry." Aggarwal was speaking at the Ola Electric Sankalp 2024 event

This move comes nearly two weeks after Ola’s CEO, Bhavish Aggarwal, teased the launch by sharing a video of himself riding the upcoming e-motorcycle. The Softbank-backed startup has since been dropping hints across its social media platforms, building anticipation for the reveal.

Ola Electric, which delivered its first e-scooter in 2021, has quickly risen to dominate the e-two-wheeler space, generating the highest revenue among its peers in India, according to a Redseer report.

Also Read | Ola Electric posts net loss of Rs 347 crore in Q1FY25

The company has been working on the bike launch for some time now.  A year ago, Ola unveiled four concept e-motorcycle models —Diamondhead, Adventure, Roadster and Cruiser.

The e-motorcycle segment, however, presents a tougher challenge, as these vehicles currently represent only a small fraction of overall bike sales in India. Despite this, Ola Electric is aiming to disrupt the market with its new offering.

Last month, it was reported that the startup had shelved plans for an e-car to focus on bikes and scooters.

On August 14, the shares of Ola Electric, which recently went public, experienced volatility, dropping over 7 percent in early trading due to profit booking before recovering to close 2.61 percent higher at Rs 110.99 on the NSE.

The company, which held its first board meeting after listing on August 14, reported a net loss of Rs 347 crore for the quarter ended June 30, up from Rs 267 crore in the same period last year. However, revenue rose by 32 percent to Rs 1,644 crore, compared to Rs 1,243 crore in the year-ago period.

Ola Electric raised over Rs 6,000 crore through its IPO and made a strong debut on August 9, with its stock surging 20 percent to hit the upper circuit on August 12.