The EV manufacturing giant Ola electric mobility shares zooms more than 20.00 per cent on the National Stock Exchange, and hit the upper circuit. The stock opened at Rs 121.00 per share on Dalal Street, today.
The Ola Electric Mobility's share price touched a day-high price of Rs 133.08 per share on the National Stock Exchange. The stock also recorded an all-time high price of Rs 133.08 per share on August 16, 2024.
Ola share price |
Three new models, the Roadster X, Roadster, and Roadster Pro, were unveiled by Ola Electric CEO Bhavish Aggarwal. Prices for all three models range from Rs 74,999 to Rs 2.49 lakh (ex-showroom). Additionally, reservations for all three bikes are now being accepted by the company.
Ola's 'Sankalp' 2024
Expanded EV Fleet will include One lakh 2W EVs rolled out over the course of the next two years. Ola Share is an affordable ride-sharing option for crowded periods and well-traveled routes.
Aggarwal disclosed during the event that the current capacity of 20 megawatts would be significantly increased to a 1-gigawatt data centre facility by 2028.
He underlined that this growth is part of a bigger plan, especially since the business also plans to introduce India's first in-house AI chip, created by Krutrim.
Bharat battery cell
In an endeavor to further extend India's EV ambitions, Ola Electric Chairman and CEO Bhavish Aggarwal unveiled the 'Bharat' battery cell, an indigenous 4680 cell made by Ola Electric.
Aggarwal stated, "We didn't import the tech, we built it ourselves," and asserted that he was the owner of over 70 patents related to this technology.
The Bharat cell is an impressive performer, offering five times more energy density than the 2170 cells currently used in Ola's scooters. It also promises faster charging times, which will increase the convenience of using it.
Ola's Q1 FY25
Net loss Q1 FY25
The company's net loss for the quarter increased to Rs 347 crore from the Rs 267 crore it had recorded in the same period the previous year. The net loss increased as a result of rising finance costs, which increased to Rs 67 crore from Rs 36 crore the previous year, and rising overall expenses, which increased to Rs 1,849 crore from Rs 1,461 crore.
Revenue and EBITDA Q1 FY25
From Rs 1,243 crore in the quarter prior to this one, to Rs 1,644 crore this one, Ola Electric's revenue climbed by 32.3 per cent year over year
Compared to a loss of Rs 218 crore the previous year, Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) was down Rs 205 crore.
