Ola Electric Shares Jump 8% After S1Z Launch

Mobility shares jumped 8% in afternoon trade on August 31, extending gains from the previous session as investor sentiment remained positive following the launch of its new mass-market S1Z electric scooter range. The stock climbed to Rs 42.10, emerging as the top midcap gainer for the day, while its market capitalisation rose above Rs 19,300 crore. The gains came amid multiple positive developments, including the S1Z launch and a Rs 95.8 crore incentive sanctioned to Ola Electric under the government’s Production Linked Incentive (PLI) scheme. The company had gained 3.2% on Friday after unveiling the S1Z, which features its indigenously developed Bharat Cell LFP battery technology. The scooter is available in 3.1 kWh and 5.1 kWh variants, priced at an introductory Rs 79,999 and Rs 99,999, respectively, with claimed IDC ranges of up to 179 km and 301 km. The latest PLI incentive could also provide some support to the company’s cash flows, with the Ministry of Heavy Industries sanctioning Rs 95.8 crore for Ola Electric under the PLI-Auto scheme for FY27.