Ola Electric, the electric vehicle arm of Ola, launched two new ranges of scooters - Gig series and S1 Z series - targeting both gig workers and urban commuters. Along with the scooters, Ola also announced the Ola PowerPod, an inverter that uses their portable batteries to power household appliances. The stock price of Ola Electric jumped by 8% on November 27, marking a 19% recovery from the 52-week low. Founder Bhavish Aggarwal said that these new products will make energy more efficient and provide flexibility in both mobility and household usage.
Ola Electric Unveils New Scooter Series and Home Energy Solution
Ola Electric, a subsidiary of Indian ride-hailing giant Ola, has made its foray into the electric scooter market with two new product lines: the Gig series and the S1 Z series. These scooters are designed to meet the needs of both gig workers and urban commuters.
The Ola Gig and S1 Z Series
The Gig series comprises three models: Gig, Gig+ and Gig Pro. These scooters are specifically tailored for gig workers, such as delivery and ride-sharing personnel. They feature a high load capacity, sturdy construction and a removable battery pack for easy charging.
The S1 Z series, on the other hand, is aimed at urban commuters who prioritize style, performance, and range. It includes two models: the S1 Z and the S1 Pro. These scooters boast impressive acceleration, top speeds of over 100 km/h, and a claimed range of up to 141 km on a single charge.
Ola PowerPod: A Portable Energy Solution
Alongside the scooters, Ola Electric also unveiled the Ola PowerPod, an innovative home energy solution. The PowerPod is a portable inverter that utilizes Ola's proprietary portable batteries to power household appliances. This allows users to store electricity from the grid or solar panels and use it during power outages or when needed.
Market Reaction
The launch of the new products was met with enthusiasm by investors. Ola Electric's stock price jumped by 8% on November 27, indicating strong market confidence in the company's future prospects.
Background of Ola Electric
Ola Electric was founded in 2017 by Bhavish Aggarwal, the co-founder and CEO of Ola. The company is headquartered in Bengaluru, India, and has manufacturing facilities in Tamil Nadu and Rajasthan. Ola Electric has a strong focus on innovation and technology, and it aims to make electric vehicles more accessible and affordable for the masses.
Top 5 FAQs
1. What is the difference between the Gig series and the S1 Z series of scooters?
2. What is the range of the Ola S1 Z Pro scooter?
3. How does the Ola PowerPod work?
4. What are the key features of the Ola Gig+ scooter?
5. What is the price of the Ola S1 Z scooter?
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