Electric two-wheeler manufacturer Ola Electric has unveiled electric scooters, S1 Z and Gig, designed to cater to gig economy workers and cost-conscious consumers.
Starting at INR 39,999, the models under Ola Gig will directly compete with offerings from players like Yulu, targeting short-distance commutes and delivery use cases.
While Ola Gig has been launched at a price of INR 39,999, Ola Gig+ will cost INR 49,999.
Here are the specifications:
| Name: | Ola Gig | Ola Gig+ |
| Battery Capacity: | 1.5 kWh | 1.5 kWh x2 |
| Certified Range: | 112 km | 81/157 km |
| Top Speed: | 25 kmph | 45 kmph |
Meanwhile, S1 Z will be available at a price of INR 59,999 and S1 Z+ at INR 64,999
Both scooters come with portable battery packs, and can also function as a home inverter using Ola's PowerPod.
As of now, reservations for the S1 Z and Gig range are open, with deliveries scheduled to begin in April 2025.
Recently, the company undertook a restructuring exercise to cut its workforce by about 500 to achieve profitability.
This comes after Ola Electric posted a net loss of INR 495 Cr in the second quarter of the ongoing fiscal year (Q2 FY25). While loss narrowed 5.5% on a year-on-year (YoY) basis, it rose 43% from INR 347 Cr in Q1 FY25.
It was also reported earlier this year that the Central Consumer Protection Authority (CCPA) has launched a detailed investigation into the consumer complaints filed against the company.
Last month, the CCPA issued a show cause notice to Ola Electric over user complaints. Following this, the company said that 99.1% of the 10,644 complaints were resolved to the complete satisfaction of the customer.
Meanwhile, the company's shares gained as much as 7.49% at INR 74.74 during the intraday trading session on the BSE today (November 26).
The shares of Ola Electric ended today's trading session 5.42% higher at INR 73.30 on the BSE.