Ola Electric's stock price saw a significant boost on Wednesday after the company revealed its plans to launch two new electric scooter ranges priced at just Rs 39,000. CEO Bhavish Aggarwal also introduced a portable home inverter, the Ola PowerPod, which doubles as a battery pack for the scooters. These affordable and accessible options are set to cater to a broad range of customers, with reservations already open. However, this move comes amidst ongoing customer complaints and a recent restructuring effort within the company. With the launch of these new models, Ola Electric aims to revolutionize EV adoption in India and pave the way for a greener future.
Ola Electric Unveils Affordable Scooters and PowerPod Inverter, Boosting Stock Price
Background
Ola Electric, a subsidiary of ride-sharing giant Ola, has established itself as a leading player in India's rapidly growing electric vehicle (EV) market. The company has faced challenges in the past, including production delays and customer service issues. However, Ola Electric remains committed to its mission of making EVs accessible and affordable to the Indian public.
Latest Developments
On Wednesday, Ola Electric announced plans to launch two new electric scooter ranges priced at just Rs 39,000. The scooters, dubbed the S1 and S1 Air, are designed to be affordable and accessible to a wide range of customers. The company also unveiled a portable home inverter, the Ola PowerPod, which doubles as a battery pack for the scooters.
Stock and Customer Response
The announcement of the new scooters and PowerPod was met with positive sentiment on the stock market. Ola Electric's stock price saw a significant boost on Wednesday. However, the company continues to face ongoing customer complaints, particularly regarding service and repair issues.
FAQs
1. What are the specifications of the Ola S1 and S1 Air scooters?
2. When will the Ola S1 and S1 Air scooters be available?
Reservations are now open, and deliveries are expected to begin in September 2023.
3. How much will the Ola PowerPod cost?
The Ola PowerPod will cost Rs 24,999.
4. How does the Ola PowerPod work?
The Ola PowerPod can be used to power household appliances during power outages. It can also be used as a backup battery pack for the Ola S1 and S1 Air scooters.
5. What is Ola Electric's future outlook?
Ola Electric is aiming to revolutionize EV adoption in India. The company plans to expand its product portfolio, including the launch of electric cars in the future. Ola Electric is also investing in battery technology and infrastructure to support the growing EV market.
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