Shares of closed at ₹34.41 on Monday, declining 3.07 per cent from the previous close of ₹35.50. In , the stock touched an intraday high of ₹36.44 before settling lower, with over 761 lakh shares changing hands worth ₹263 crore.
The company announced on Saturday that it has commenced mass deliveries of vehicles powered by its indigenously manufactured 4680 Bharat Cell. The S1 Pro+ with 5.2kWh battery pack is the first product to feature these cells, making Ola Electric India’s first company to fully own both battery pack and cell manufacturing in-house.
The new S1 Pro+ offers a range of 320 km, accelerates from 0-40 kmph in 2.1 seconds, and comes equipped with dual ABS and four riding modes. It is priced at ₹1,90,338.
Despite the product milestone, Ola Electric shares have faced significant pressure this year. The stock is down 60 per cent year-to-date and 64 per cent from its 52-week high of ₹100.40 touched in December 2024. It hit a fresh 52-week low of ₹33.60 during Monday’s session. The stock has been among the worst performers in the smallcap space, with nearly one in four Nifty 500 stocks currently in drawdowns exceeding 30 per cent.
Ola Electric currently operates over 4,000 stores across India and offers an expanded portfolio, including S1 scooters and Roadster X motorcycles manufactured at its Tamil Nadu facility.