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Ola Electric Mobility today announced the launch of the all-new S1Z, the first scooter range in India to bring the company's indigenously developed Bharat Cell LFP technology to the mass market. The S1Z brings Ola's indigenous 46 series LFP cell platform technology, developed at its Battery Innovation Centre and manufactured at the Ola Gigafactory, to its most accessible scooter range, for the country's largest EV buying segment.
The S1Z has been designed around a simple belief that customers in the value segment should never have to compromise on technology, safety or performance. With the introduction of indigenous LFP chemistry, Ola is redefining expectations of what an accessible electric scooter can offer while advancing its vision of building India's EV ecosystem from the cell upwards.
Available in 3.1 kWh and 5.1 kWh variants, at an introductory pricing of ₹79,999 and ₹99,999 (ex showroom), respectively, the S1Z demonstrates how Ola's vertically integrated EV ecosystem is translating into tangible customer value. The 3.1 kWh and 5.1 kWh variants can deliver a range of up to 179 kms and 301 kms respectively (IDC).
By developing and manufacturing its Bharat Cell LFP technology in-house, Ola Electric has been able to significantly lower battery costs—the single largest cost component of an electric vehicle, making next generation battery technology accessible at mass-market price points. The S1Z is the first proof of this strategy, bringing safer, longer-lasting LFP chemistry to millions of Indian riders without compromising on affordability.
The S1Z will be offered in four colours: White, Anthracite, Sky Splash Blue and Matcha Green and rides on 12-inch wheels across all variants. Deliveries of the 3.1 kWh variant are scheduled to begin in December 2026, while the 5.1 kWh variant will commence deliveries from March 2027.
Ola Electric unveiled an ambitious expansion of its Shakti energy storage portfolio-designed to store energy when it is available and deploy it when it is needed-from keeping a home powered through an outage to managing renewable energy at grid scale. Built around indigenous LFP battery technology and the company's vertically integrated cell-to system capabilities, Ola Shakti creates a single architecture across three markets: home energy with Shakti Gen2, commercial and infrastructure energy with Shakti Rack, and industrial and utility-scale energy with Mahashakti.
“The use cases of our world-class battery and cell technology will manifest beyond electric mobility,” said Bhavish Aggarwal, Chairman and Managing Director, Ola Electric. “Ola Shakti extends that innovation across every scale-from the home to the grid-helping India store and use clean energy intelligently. It is the natural next step as we leverage our Gigafactory, indigenous LFP cells, and nationwide network to deliver reliable, affordable energy storage without incremental capital intensity.”
Ola Electric Mobility today announced that the Ministry of Heavy Industries (MHI), Government of India, has approved revised timelines under the ACC Production Linked Incentive Scheme for Ola Cell Technologies (OCT), its wholly owned subsidiary.
The MHI revision is much more than a timeline extension. The approval secures a full five year PLI window through CY2031 for Ola Electric's 20 GWh allocation and unlocks up to Rs 7,240 crore in cumulative PLI incentives.
Disbursements will be made quarterly, beginning next quarter, creating a recurring incentive stream as Ola Electric scales its cell business.
Ola Electric currently has 2.5 GWh of installed cell-manufacturing capacity, with a further 3.5 GWh under installation. The company will reach 6 GWh by the end of the current quarter, achieving the initial installed-capacity milestone well ahead of the revised December 2026 timeline. The MHI decision has effectively extended the original timelines by two years.
Lithium cells are becoming a foundational technology across electric mobility, energy storage, drones, robotics and next-generation industrial systems. Building these capabilities in India will strengthen the country's energy security and technology independence while creating a globally competitive domestic battery ecosystem.
Ola Electric is building a multi-chemistry cell platform spanning NMC and LFP technologies, supported by indigenous R&D, increased localisation of battery materials, improved manufacturing yield, and closed-loop material recovery.
Revenue from operations declined 45.0% year-on-year (YoY) to Rs 455 crore in Q1 FY27 as against Rs 828 crore in Q1 FY26.
Gross profit stood at Rs 139 crore in Q1 FY27 as against Rs 214 crore in Q1 FY26. Gross margin stood at 30.5% in Q1 FY27 as against 25.8% in Q1 FY26.
Operating expenses declined 35.0% YoY to Rs 333 crore in Q1 FY27 as against Rs 512 crore in Q1 FY26, while operating EBITDA loss narrowed to Rs 165 crore as against Rs 237 crore.
In the automotive segment, revenue from operations declined 44.9% YoY to Rs 455 crore in Q1 FY27 as against Rs 826 crore in Q1 FY26. Gross margin improved to 30.5% from 25.6%, while operating EBITDA loss widened to Rs 112 crore from Rs 96 crore.
The automotive segment’s net loss narrowed to Rs 233 crore in Q1 FY27 as against Rs 261 crore in Q1 FY26. Cash flow from operations stood at a negative Rs 120 crore as against a negative Rs 86 crore, while free cash flow stood at a negative Rs 123 crore as against a negative Rs 166 crore.
The cell segment reported revenue from operations of Rs 5 crore in Q1 FY27 as against Rs 3 crore in Q1 FY26. Gross margin stood at 20% as against 65.2% in the corresponding quarter last year.
The cell business reported operating EBITDA of Rs 28 crore in Q1 FY27 as against a loss of Rs 43 crore in Q1 FY26. Adjusted operating EBITDA stood at Rs 22 crore as against a loss of Rs 44 crore. The segment’s net loss narrowed to Rs 28 crore in Q1 FY27 as against Rs 69 crore in Q1 FY26.
Ola Electric said Q1 FY27 marked a strong scale-up in its automotive business, supported by improving demand momentum. Orders increased to approximately 44,000 units, while deliveries rose to around 39,200 units. Automotive revenue from operations stood at approximately Rs 455 crore, while gross profit stood at Rs 139 crore during the quarter.
Despite a challenging commodity environment, the company maintained a gross margin of 30.5%, which it said reflected the strength of its product economics. Commodity costs increased around 11% during the quarter, driven by higher copper and aluminium prices, lithium supply constraints in China and elevated plastics and polymer costs following crude oil supply disruptions.
Ola Electric said it continued to execute cost optimisation initiatives, with consolidated operating expenses declining 22% quarter-on-quarter to Rs 333 crore. The company remains focused on achieving a lower steady-state operating cost base of around Rs 300 crore per quarter.
The company expects operating leverage and continued cost efficiencies to support further improvement in adjusted operating EBITDA margins as monthly deliveries scale towards its previously communicated operating breakeven range.
During the quarter, Ola Electric completed a Rs 780 crore Qualified Institutional Placement (QIP), which was oversubscribed by 56% amid strong institutional demand. The company said the capital raised will strengthen its balance sheet and provide additional financial flexibility to support disciplined growth.
Ola Electric also received a one-time benefit to its cost base from PLI-related levies, supported by a favourable government stance towards its cell business. The company said the development reinforces the strategic importance of domestic cell manufacturing and aligns with the government’s broader focus on localisation, self-reliance and building an indigenous battery ecosystem.
The scrip shed 0.92% to end at Rs 41.07 on the BSE.
Ola Electric today announced it is opening its sales and service network to dealer partners across India. This marks a structural shift in the company's go-to-market approach, five years after it launched its first electric scooters.
Ola Electric built its early growth through company owned stores, using them to build EV awareness, establish the brand, and create India's largest EV two-wheeler customer base of over 1 million riders. As the EV industry has matured and consumer acceptance has grown, the company is now evolving this model. Over the coming months, company stores will transition to focus on brand and product experience, while dealer partners will become the backbone of local sales, service and scale across the country.
The move follows a month of on ground engagement with dealers nationwide. Ola Electric said the response has been strong, with dealers expressing confidence that the company's product portfolio, combined with their local market execution, can meaningfully accelerate both Ola's sales and EV adoption in India more broadly.
Ola Electric Mobility today announced that it has signed a Memorandum of Understanding (MoU) with Axis Energy outlining the potential deployment of up to 20 GWh of battery energy storage systems by 2032.
The MoU is the first large-scale partnership for Ola Mahashakti, Ola's forthcoming energy storage platform for commercial, industrial and utility-scale applications, scheduled to launch on 15 August. The partnership is an early demonstration of the scale of demand Mahashakti can address. It establishes utility-scale BESS as a significant new growth avenue for Ola.
Axis Energy is building one of India's largest pipelines of storage-backed renewable projects. The company has secured grid approvals for over 3,750 MW Projects in Andhra Pradesh and Rajasthan and has a strong pipeline of ~3500 MW. These projects, spanning Firm and Dispatchable Renewable Energy (FDRE), hybrid, and other non-solar configurations, will require large-scale BESS to improve renewable energy integration, enhance grid reliability, and deliver firm, round-the-clock clean energy.
India's energy transition will require storage deployment at an unprecedented scale. The Central Electricity Authority (CEA) estimates that India will require 400+ GWh by 2032. Mahashakti addresses this opportunity with a first-of-its-kind India-designed and India-manufactured BESS platform spanning renewable-energy integration, industrial power, grid infrastructure and data-centre applications.
Ola's proposition is built on vertical integration, from cell technology to manufacturing and system engineering. This is designed to give customers greater control over safety and performance, stronger supply-chain security and a lower total cost of ownership over the system's operating life.
Mahashakti, Ola Electric's utility-scale and commercial & industrial (C&I) energy storage platform, is scheduled to be launched on 15 August 2026. The company said the partnership marks the first large-scale commercial engagement for the platform and establishes utility-scale battery storage as a new growth avenue.
Axis Energy is developing a large pipeline of storage-backed renewable energy projects, with grid approvals for more than 3,750 MW across Andhra Pradesh and Rajasthan and an additional pipeline of around 3,500 MW. These projects are expected to require large-scale battery storage systems to support renewable energy integration and grid reliability.
Ola Electric said its vertically integrated cell-to-system platform is designed to enhance safety, improve supply-chain security and lower the total cost of ownership. The company added that India is expected to require more than 400 GWh of energy storage capacity by 2032, citing estimates by the Central Electricity Authority.
Bhavish Aggarwal, chairman and managing director of Ola Electric, said the partnership with Axis Energy validates the potential of the Mahashakti platform and reflects growing industry interest in indigenous battery energy storage solutions.
Ola Electric Mobility is an electric vehicle manufacturer with vertically integrated capabilities across EVs, battery cells and related technologies. The company operates its manufacturing facility in Tamil Nadu and a battery innovation centre in Bengaluru focused on cell and battery technology.
The company posted a consolidated net loss of Rs 500 crore in Q4 FY26 compared with a net loss of Rs 870 crore in Q4 FY25 and Rs 487 crore in Q3 FY26. Revenue from operations declined 56.6% YoY and 43.6% QoQ to Rs 265 crore in the March 2026 quarter.
Ola Electric today announced that it registered 43,719 vehicles in Q1 FY27, nearly doubling from 22,252 vehicles in Q4 FY26, according to VAHAN data. The quarter concluded with 16,144 registrations in June 2026, reflecting sustained business momentum and the company's strongest monthly performance in recent quarters.
The strong sequential growth demonstrates continued improvement in retail execution, customer demand and product availability, building on the operational initiatives undertaken over the last few quarters. June's performance further reinforces the positive trajectory seen through the quarter, as the company continues to strengthen its position in India's fast-growing electric two-wheeler market.