Ola Electric Mobility Ltd. plans to unveil its latest electric bike on Feb. 5, according to a tweet posted by the company's founder, Bhavish Aggarwal, on the social media platform X (formerly Twitter).
In his post on X, Aggarwal shared a few images of Ola Electric's latest offering along with a video of him riding the two-wheeler inside Ola's Bengaluru office.
Although the name of the model, its specifications, and its power output were not disclosed by Aggarwal, he called on enthusiasts to visit Ola's Indiranagar store in Bengaluru for a test drive at 7 pm on Saturday.
On Jan. 31, the company had launched Ola Gen 3 scooters across four models—the S1 X, S1 X+, S1 Pro and S1 Pro+. The Gen 3 scooters carry several segment-first features, including dual-channel ABS and the company's patented brake-by-wire technology.
Aggarwal teased the images of the new electric bike on the day when Finance Minister Nirmala Sitharaman said in her budget speech that the centre will be undertaking indirect tax measures for EV battery manufacturing, among other sectors.
In fact shares of Ola Electric Mobility rose on Saturday after the government announced a National Manufacturing Mission to support domestic manufacturing, including electric vehicle batteries.
Shares of Ola Electric surged as much as 8.02% to Rs 80.80 apiece as of 11:32 a.m, and dropped to Rs 74.33 at closing.
Out of eight analysts tracking the company, four maintain a 'buy' rating, two recommend a 'hold,' and two suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 10.5%.
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