OLA Electric Mobilit

By Akash Sriram

BENGALURU, Sept 10 (Reuters) - Indian electric motorcycle maker Ultraviolette Automotive plans to invest 7.79 billion rupees ($81.93 million) in a new plant in the southern part of the country to expand manufacturing capacity and support its entry into the mass-market segment.

Concerns over the compatibility of older petrol vehicles with E20 fuel are helping drive demand for electric two-wheelers in India, where their sales, according to government data, topped 1.03 million units in the first eight months of 2026.

The facility in Hosur, Tamil Nadu will begin with an annual capacity of 250,000 vehicles and can be expanded to 500,000 units as demand rises, founders of the company, backed by Qualcomm QCOM.O and TVS Motor TVSM.NS, told Reuters.

The plant will complement the startup's existing facility near Bengaluru, which can produce up to 50,000 units annually.

Consulting firm McKinsey estimates electric two-wheeler adoption to reach 40% to 45% by fiscal year 2030. Their share of overall two-wheeler sales crossed 10% for the first time in August 2026.

"The demand we have for our products, including what is coming up next with the Tesseract and the Shockwave, is far more than the current facility can cater to," Ultraviolette co-founder and CEO Narayan Subramaniam told Reuters.

Known for premium electric motorcycles such as the F77 and X47, Ultraviolette plans to launch its Shockwave motorcycle for under 200,000 rupees and the Tesseract scooter for below 150,000 rupees.

The company expects underlying domestic demand for its scooters of at least 10,000 units a month, Subramaniam said, a level that could put it in contention with larger electric two-wheeler makers, including Ola Electric OLAE.NS and Ather Energy ATHR.NS.

The investment, to be made over the next five years, will be funded through internal reserves, equity and future cash flows, with limited use of debt, CTO Niraj Rajmohan said.

Hosur was selected partly for its proximity to Ultraviolette's Bengaluru research and development centre and its access to an automotive supply chain, Rajmohan said.

Ultraviolette sold more than 3,000 electric motorcycles globally in the first half of the year, compared with about 1,756 units for Zero Motorcycles and about 300 for Harley-Davidson's LiveWire LVWR.N, it said.

Exports to Europe and Latin America, according to Subramaniam, account for about 15% of sales and could rise to 25% within five years.

($1 = 95.0800 Indian rupees)

(Reporting by Akash Sriram in Bengaluru; Editing by Shilpi Majumdar)

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Ola Electric scheduled a board meeting for September 5, 2026, to consider raising funds through equity shares or other eligible securities, including a private placement, qualified institutions placement or preferential issue. The proposal remained subject to regulatory approvals and shareholder consent, and no amount or security terms were specified. The board was also due to consider the annual report for the year ended March 31, 2026, and arrangements for the annual general meeting. Ola Electric had raised ₹330 crore through a QIP in June, while FY27 first-quarter revenue was ₹455 crore and net loss was ₹336 crore.

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Ola Electric introduced the S1Z electric scooter with its 46160 LFP Bharat Cell, a stated 301 km IDC range and an introductory price of ₹79,999. It opened bookings through its website and said deliveries would begin in December. The launch followed a social-media teaser from the company’s CMD describing a major LFP announcement for the following morning. Ola’s cell segment generated ₹5 crore of revenue in the June quarter, while automotive revenue was ₹455 crore.

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Aug 28 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC - RECEIVES 958.1 MILLION RUPEES INCENTIVE UNDER PLI-AUTO SCHEME

Source text: ID:nBSE4TMDZD

Further company coverage: OLAE.NS

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The Ministry of Heavy Industries approved revised timelines for Ola Cell Technologies, Ola Electric’s wholly owned battery subsidiary, under the ACC Production Linked Incentive scheme. The approval secured a full five-year incentive window through CY2031, with up to ₹7,240 crore in cumulative incentives to be disbursed quarterly from the next quarter. Ola Electric had 2.5 GWh of installed cell capacity and a further 3.5 GWh under installation, and expected to reach 6 GWh by the end of the current quarter. Cell revenue was ₹5 crore in Q1 FY27, while the cell segment reported a ₹28 crore loss.

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** Ola Electric Mobility OLAE.NS shares fall 4.5% to 39.23 rupees

** June-qtr revenue from operations fall 45% YoY to 4.55 billion rupees ($47.79 million)

** Quarterly net loss narrows to 3.36 billion rupees from 4.28 billion rupees a year earlier

** Q1 deliveries at 39,192 units, down 42.5%, from 68,192 vehicles it delivered in the same qtr last year

** "1Q showed operational recovery, but the quality of improvement remains weak," - Ambit Capital

** Brokerage says valuation comfort remains limited amid intensifying competition, an unproven brand and service turnaround, continued cash burn and reliance on a sustained recovery in volumes to achieve breakeven

** 6 of 8 brokerages rate the stock "sell" or lower; their median PT is 32.5 rupees

** YTD, stock up 13.3%

($1 = 95.2000 Indian rupees)

(Reporting by Abhinav Parmar in Bengaluru)

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Aug 7 (Reuters) - India's Ola Electric OLAE.NS on Friday reported a narrower first-quarter loss, as higher electric two-wheeler sales and lower operating expenses helped offset a challenging commodity environment.

The company posted a net loss of 3.36 billion Indian rupees ($35.29 million)in the quarter ended June 31, compared to a loss of 4.28 billion rupees a year earlier.

($1 = 95.2075 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru; Editing by Tasim Zahid)

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Aug 6 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC - OPENS SALES AND SERVICE NETWORK TO DEALER PARTNERS ACROSS INDIA

Source text: ID:nBSE5r4730

Further company coverage: OLAE.NS

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Aug 5 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC - SIGNS FIRST MOU WITH AXIS ENERGY FOR UTILITY-SCALE ENERGY STORAGE

• OLA ELECTRIC - AGREEMENT ENVISAGES POTENTIAL DEPLOYMENT OF UP TO 20 GWH BY 2032

Source text: ID:nBSEb1xGWP

Further company coverage: OLAE.NS

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Aug 3 (Reuters) - Indian electric scooter maker Ather Energy ATHR.NS posted a narrower quarterly loss on Monday, as strong sales helped offset the impact of higher expenses.

It reported a net loss of 508.7 million rupees ($5.34 million) for the quarter ended June 30, compared with a loss of 1.78 billion rupees a year earlier.

($1 = 95.3375 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru; Editing by Rashmi Aich)

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July 8 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• CLARIFIES ON REPORT OF TWO SUPPLIERS MOVING NCLT OVER DUES

• RAISED PERFORMANCE CONCERNS ON SOME PARTS SUPPLIED BY ANEVOLVE MANDO E-MOBILITY AND STERLING E-MOBILITY SOLUTIONS

• INITIATED ARBITRATION PROCEEDINGS AGAINST THE VENDORS AND FILED PETITIONS UNDER ARBITRATION AND CONCILIATION ACT

• ANEVOLVE MANDO AND STERLING E-MOBILITY FILED PETITIONS UNDER INSOLVENCY AND BANKRUPTCY CODE

Source text: [ID:]

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** India's June auto wholesales were solid for PVs and CVs despite supply-sides issues and fuel price inflation worries, BofA Securities says

** Auto demand remains strong post-GST rate cut; expects strength to continue through H1FY27 - CLSA

** EV penetration accelerating; expects adoption curve to steepen as upfront ownership economics of EVs increasingly converge with ICE vehicles - CLSA

** Gasoline price hikes in India have tapered off and concerns about weak total auto demand are easing, JP Morgan says

** Adds, Tata Motors PV TAMO.NS maintained second place in domestic sales as growing EV sales contributed

** Domestic volume growth outlook for TAMO stays positive; co likely to outperform industry, HSBC says

** Nifty auto index .NIFTYAUTO last up 0.9%; down 4% YTD

(Reporting by Aleef Jahan in Bengaluru)

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July 1 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• REGISTERS 16,144 VEHICLES IN JUNE 2026

Source text: ID:nNSE3C1W7y

Further company coverage: OLAE.NS

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Ola Electric Mobility's battery subsidiary has become the first Indian company to receive BIS certification for an indigenously developed 46100 LFP cylindrical cell, the company said on Tuesday. The certification under IS 16046 (Part 2):2018 / IEC 62133-2:2017 covers safety and performance standards. The cell, with an energy density above 170 Wh/kg and a target of over 4,000 cycles, expands Ola's in-house portfolio beyond its existing NMC 4680 Bharat Cells. The certification follows qualification tests including thermal abuse, short circuit, and crush assessments at a NABL-accredited lab. Ola's gigafactory in Tamil Nadu, already producing 4680 cells for vehicles on road, will also manufacture the new LFP cell line on a common 46-series architecture. The company said the development supports its goal of reducing import dependence and building advanced battery technologies within India.

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June 23 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• GETS BIS CERTIFICATION FOR 46100 LFP CELL

Source text: ID:nBSEc6vqGF

Further company coverage: OLAE.NS

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** Shares of Ola Electric Mobility OLAE.NS fall as much as 3.7% to 38.08 rupees, last down 1.1%

** Electric two-wheeler maker to raise funds via QIP issue of shares with floor price set at 37.74 rupees per share, 4.5% discount to closing price on Monday

** Update on NSE website shows issue to be 13 bln rupees ($136.6 mln)

** Proceeds to be used for loan repayment, expenditure incurred for organic growth initiatives, and general corporate purposes

** YTD, OLAE up ~8%

($1 = 95.1450 Indian rupees)

(Reporting by Vijay Malkar)

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June 1 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC - REGISTRATIONS RISE TO 15,139 UNITS IN MAY 2026, UP 23% M/M

Source text: ID:nNSE98llTr

Further company coverage: OLAE.NS

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** Shares of Ola Electric OLAE.NS drop nearly 4% to 35.52 rupees

** HSBC ("reduce", cuts PT to 33 rupees from 45 rupees) analysts say OLAE has lost its "first-mover advantage" due to delays and faces margin pressure

** Emkay Global ("sell", PT 25 rupees) says while Q4 margins improved, they are not sustainable as co faces pricing pressure, rising competition and execution challenges

** Avg rating of eight analysts on OLAE at "sell"; median PT is 28 rupees - LSEG-compiled data

** Electric scooter maker reports lower Q4 revenue; profit rises on sharp cost control

** YTD, stock down 2%

(Reporting by Kashish Tandon in Bengaluru)

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May 20 (Reuters) - India's Ola Electric OLAE.NS on Wednesday reported a narrower fourth-quarter loss, as the electric scooter maker reined in costs amid intense competition in the country's fast-growing electric two-wheeler market.

The company posted a net loss of 5 billion rupees ($51.65 million) in the January-March quarter, compared to a loss of 8.7 billion rupees a year earlier.

($1 = 96.8050 Indian rupees)

(Reporting by Abhinav Parmar in Bengaluru; Editing by Mrigank Dhaniwala)

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May 15 (Reuters) - Indian EV maker Ola Electric OLAE.NS said on Friday its board approved a 20 billion-rupee ($208.47 million) investment in its electric and cell technologies units.

($1 = 95.9387 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru; Editing by Sonia Cheema)

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May 1 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• REPORTS 20% MONTH-ON-MONTH SALES GROWTH IN APRIL

Source text: ID:nNSE9xP1gb

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** Shares of Ola Electric OLAE.NS rise as much as 8.5% to 42 rupees

** Chinese internet conglomerate Tencent 0700.HK has invested $400 million in OLAE, Economic Times reported, citing filings

** Singapore-based Copper Technology Pte Ltd will take a 9.57% stake in the EV maker, the report added, with sources confirming to ET that it is Tencent-owned

** Tencent, Ola did not immediately respond to Reuters requests for comment

** More than 240 million shares traded so far, almost 1.4x 30-day avg

** Average rating of 8 analysts on OLAE is "sell"; median PT 26 rupees - data compiled by LSEG

** YTD, OLAE up about 11%

(Reporting by Urvi Dugar in Bengaluru)

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** Shares of India's Ola Electric Mobility OLAE.NS on track for 28.16% weekly gain, eyes best week since August 2024

** Stock up 5.12% at 38.18 rupees on the day

** Electric vehicle maker said on April 7 it has completed its in-house developed lithium iron phosphate (LFP) battery, which could help lower costs and support wider adoption

** Trading vols at 467.2 million shares vs 30 day avg of 124 million shares

** OLAE on avg rated "sell" by 8 analysts; median PT is 24.50 rupees- LSEG data

** YTD stock up 0.22%

(Reporting by Devika Nair in Bengaluru)

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** Shares of Ola Electric Mobility OLAE.NS jump more than 7% to 27.78 rupees

** Co cuts price of flagship Roadster X+ 9.1 kWh electric motorcycle by 60,000 rupees to 129,999 rupees ($1,400.10)

** Says price cut driven by improved cost efficiencies from rapid economies of scale at its Gigafactory, deeper vertical integration

** Trading volume at 345.97 mln shares so far vs 30-day average of 72.49 mln

** Stock rated "sell" on average by 8 analysts, median PT at 24.50 rupees - data compiled by LSEG

** YTD, stock down 28.5%

($1 = 92.8500 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

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April 1 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC - REGISTRATIONS JUMP OVER 150% M/M TO 10,117 UNITS IN MARCH

Source text: https://nsearchives.nseindia.com/corporate/OLAELECTRIC_01042026204929_Intimation_Shareholders_Communication_OEM.pdf

Further company coverage: OLAE.NS

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March 18 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC - APPROVES PROPOSED VARIATION IN IPO PROCEEDS UTILIZATION

• OLA ELECTRIC - APPROVED MODIFICATION OF TIME LIMIT FOR UTILISATION OF IPO PROCEEDS

Source text: ID:nBSE6SsbKC

Further company coverage: OLAE.NS

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By Manoj Kumar

NEW DELHI, March 17 (Reuters) - An Indian parliamentary panel has recommended mandatory registration of gig workers on a national labour database, while calling for clearer legal obligations for digital platforms to contribute to their social security.

The Standing Committee on Labour said in a report on Tuesday that gig workers on digital platforms had become an "integral part of the modern supply chain," particularly in cities delivering food, transport and other on-demand services, but many remained outside formal labour registration and social security systems.

To bridge the gap, the committee has recommended that all platform aggregators, such as Swiggy SWIG.NS, Ola OLAE.NS and Zomato, must register gig workers on the government's e-Shram portal, a national database for unorganised workers.

Engagement of such workers should be linked to this registration, the panel said.

The recommendations come as India's gig economy expands rapidly, with millions working on app-based platforms in sectors such as ride-hailing, logistics and food delivery.

The Indian government announced in November last year the implementation of four labour codes, overhauling decades-old rules governing factories and workers while promising social security benefits for gig and platform workers.

These benefits have not been implemented so far.

There are no official estimates for the size of India's gig economy, although government think tank NITI Aayog expects the sector to employ 23.5 million people, or about 7% of the non-farm workforce, by 2030.

The committee also proposed that registration remain valid for at least one year, with gig workers continuing to receive basic social security benefits, including insurance and accident cover, even if they stop working with a particular aggregator.

It also urged the government to include clearer provisions for gig and platform workers in labour codes, defining aggregator responsibilities and ensuring contributions to social security schemes.

The report further called for stronger social security coverage for workers in non-traditional employment arrangements as India's digital economy evolves.

(Reporting by Manoj Kumar; Editing by Anil D'Silva)

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March 3 (Reuters) - Ola Electric Mobility Ltd OLAE.NS:

• OLA ELECTRIC - ROADSTER RANGE NOW STARTS AT 79,999 RUPEES

Source text: ID:nBSE6HHgHw

Further company coverage: OLAE.NS

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** Goldman Sachs downgrades India's Electric two-wheeler manufacturer Ola Electric OLAE.NS to "neutral" rating

** Brokerage cuts PT for OLAE to 26 rupees from 52 rupees earlier

** Shares of OLAE drop nearly 1% to 25 rupees

** Brokerage says insufficient vehicle servicing capacity, high turnover in senior management, volatile sales network strategy, and muted reception for its roadstar motorcycle have led to a loss in 2W market share

** Expects co's 2W market share to remain range bound in the mid-single digit run rates over FY25-FY27

** OLAE rated "Sell" on avg by 8 analysts covering it; median PT at 26.50 rupees - data compiled by LSEG

** YTD, OLAE lost ~30%

(Reporting by Komal Salecha in Bengaluru)

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** Ola Electric OLAE.NS falls as much as 2.5% to record low of 26.83 rupees; stock down 12.5% so far this week

** Electric two-wheeler manufacturer plans to reduce physical store count further to about 550 by March-end, as per media report

** Earlier this week, Citi downgraded stock to "sell" from "buy"; cuts PT to 27 rupees from 55 rupees, citing persistent headwinds to volume growth

** Stock rated "hold" on average vs "strong buy" for larger rival Ather Energy ATHR.NS, per data compiled by LSEG

** Stock down 25% YTD

(Reporting by Brijesh Patel in Bengaluru)

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