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Results · Mobility & Logistics

Ola Electric cuts Roadster X+ price 31% after PLI certification

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Ola Electric logo
Date
Company
Ola Electric
What it does
Electric scooter and battery maker
Kind
Results
Sector
Mobility & Logistics

What they do

Roadster X+ 4.5 kWh received PLI certification for domestic value addition

What happened

Q3 FY26 operating revenue fell 55% to ₹470 Cr; net loss narrowed 14% to ₹487 Cr

Why it matters

Roadster X+ 9.1 kWh price cut over 31% to ₹1.3 Lakh due to cell production efficiencies

The details

  • Ola Electric reported a ₹470 Cr operating revenue for Q3 FY26.
  • This revenue figure represents a 55% year-on-year decline.
  • The company posted a net loss of ₹487 Cr during the same period.
  • This loss narrowed by 14% compared to the previous year.
  • Operating cash flow remained negative at ₹866 Cr for the first nine months.
  • March 2026 registrations jumped 139% to 9,496 units from February.
  • Market share stood above 5% placing it in fifth position.
  • The stock price saw an intraday jump of 9.33% closing at ₹28.35.

The bigger picture

  • Fund reallocation diverted ₹475 Cr from R&D to debt repayment.
  • ₹100 Cr was directed toward organic growth initiatives.
  • Gigafactory capacity scaling increased to 6 GWh from the initial target.
  • PLI certification was received for the Roadster X+ model.
  • Increased cell production drove vertical integration cost efficiencies.

About the business

  • Ola Electric manufactures electric scooters under various brand names.
  • The product range includes S1 Pro Sport and Roadster models.
  • Pricing varies from ₹39,999 for Gig to ₹1,99,999 for Roadster Pro.
  • The company produces its own 4680 Bharat Cell batteries.
  • These cells power Gen 3 e-scooters like the S1 Pro+.
  • A service network comprises 590 dedicated service centres.
  • 1 lakh third-party mechanics are trained to be EV-ready.
  • The company offers EMI terms with tenures up to 60 months.
  • An EV community of over a million owners is maintained.
  • Future products include solar charge controllers coming in March 2027.

What happens next

  • Delivery timelines for specific models are set for November 2026.
  • Solar charge controllers are scheduled for release in March 2027.

Founders

  • Bhavish Aggarwal, Founder

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