Ola Gig and S1 Z E-Scooters Launched: ₹39,999, 157km Range, Dual 1.5kWh Batteries
Ola Electric has introduced two new electric scooters, Gig and S1 Z, in the Indian market. The company has launched these scooters in two variants each: Ola Gig, Gig+, S1 Z, and S1 Z+. The Ola Gig is designed for local delivery purposes, while the Ola S1 Z is tailored for both personal and commercial use.
Features and Pricing
Both scooters come equipped with 1.5kWh removable and standard batteries. The ex-showroom price of these electric scooters starts at ₹39,999. Deliveries for the Ola Gig will commence in April 2025, and for the S1 Z in May 2025. In India, the Ola Gig will compete with slow-speed electric scooters like the Komaki X1 and Avon E Scooter 504, whereas the Ola S1 Z will rival the Yulu Win and Zelio Eva.
Ola Gig and Gig+
The Ola Gig is a basic electric scooter without panels or an infotainment display. It features a single LED headlight at the front. The Gig is available in two variants: Gig and Gig+. It has a single seat and a storage rack at the back.
The standard Gig is a slow-speed scooter powered by a 250W motor with a 1.5kWh portable battery. The company claims a range of 112 km on a full charge, with a top speed of 25 km/h.
The Gig+ variant includes a panel at the front, an LCD screen, and a rear storage rack. It features a 1.5kW motor and a 1.5kWh battery pack, which can be extended with an additional battery pack. The Gig+ offers a range of 81 km with a single battery and up to 157 km with dual batteries, and its top speed is 45 km/h.
Ola S1 Z and S1 Z+
The Ola S1 Z has been designed for simplicity, catering to both personal and professional needs. It includes all-around LED lighting and comes in two variants: S1 Z and S1 Z+. The difference lies in accessories. The S1 Z standard model has a double seat, while the S1 Z+ variant features a single seat with a storage rack and a front apron.
Both variants are powered by a 3kW hub motor mounted on the rear wheel. The company claims the scooter can accelerate from 0 to 40 km/h in 4.7 seconds and achieve a top speed of 70 km/h. It has 14-inch wheels for better riding comfort, along with an LCD screen and smartphone connectivity.
A 1.5kWh removable battery pack is provided as standard, which can be extended with an additional battery. With a single battery, the scooter offers a range of 75 km, and with dual batteries, it can go up to 146 km.
Stock Performance Post Launch
Following the launch of the new e-scooters, Ola’s shares saw a 20% surge today, closing at ₹88.10 with an upper circuit of 20%. In the last five days, Ola’s shares have gained nearly 30%. Over the past month, investors have received a 13% return from the company’s shares. The market capitalization of the company now stands at ₹36,780 crore. Ola’s shares were listed on the BSE-NSE on August 9.
IPO and Funds Raised
Ola Electric Mobility’s Initial Public Offering (IPO) opened on August 2 and closed on August 6, raising ₹6,145.56 crore through the issue.
Company Background
Bengaluru-based Ola Electric Mobility was established in 2017. The company primarily manufactures electric vehicles, battery packs, motors, and vehicle frames at the Ola Future Factory. As of March 31, 2024, the company employed 959 people, including 907 permanent staff and 52 freelancers.
