Ola Electric hits 1 million production milestone; stock climbs

Ola Electric Mobility Ltd on Tuesday announced that it has achieved a major manufacturing milestone by rolling out its one-millionth vehicle from its Futurefactory in Krishnagiri, Tamil Nadu.

The pureplay EV firm, which began production in 2021, reached the landmark in under four years. To commemorate the occasion, it unveiled a special edition of its Roadster X+ motorcycle in midnight blue with red accents across the dual-tone seat, rims and battery pack. The edition also features badges crafted from recycled copper waste and electroplated bar ends.

At its annual 'Sankalp' event, Ola Electric further announced the launch of 4680 Bharat Cell integrated vehicles. These include the S1 Pro+ with a 5.2 kWh battery, priced at Rs 1,69,999, and the Roadster X+ with a 9.1 kWh battery, priced at Rs 1,89,999. Deliveries will begin this Navratri.

The company also marked its entry into the sports scooter category with the S1 Pro Sport, offered with 5.2 kWh and 4 kWh battery packs powered by the 4680 Bharat Cell. The model is priced at an introductory Rs 1,49,999, with deliveries slated to begin in January 2026.

On the bourses, Ola Electric shares rose 0.71 per cent to touch a day high of Rs 61.

Technically, a few analysts expect Ola Electric shares to trade in the Rs 53–65 range in the near term, with support at Rs 55, resistance at Rs 63, and an upside target of Rs 65. A stop loss is suggested at Rs 57.

Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, noted that Ola Electric shares can hit an upside target of Rs 65 in the near term, while advising investors to keep a stop loss at Rs 57.

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said support is placed at Rs 55 and resistance at Rs 63. A breakout above Rs 63 may lead to Rs 65, with the short-term trading range expected between Rs 53 and Rs 65.

Founded in 2017, Ola Electric manufactures electric two-wheelers and components such as battery packs, motors and frames at its Ola Futurefactory. As of June 2025, promoters held a 36.78 per cent stake in the company.