Ola Electric Mobility Ltd, poised for its IPO, is set to introduce its first electric motorcycle in the first half of the financial year 2026. Currently working on a portfolio of four electric motorcycles, Ola aims to expand into the mass-market segment over time.
In its Draft Red Herring Prospectus (DRHP) for the IPO, the company stated, “We expect to begin delivery of the motorcycles in the first half of fiscal 2026.” Ola had previously showcased four electric motorcycle concepts: Diamondhead, Adventure, Roadster, and Cruiser.
Ola Electric plans to diversify its product range to include mass-market motorcycles, aiming to attract a broader consumer base across various product types and price points. Recently, Ola Electric patented three electric motorcycle designs and a removable electric battery.
While electric scooters are gaining traction with multiple startups and traditional OEMs entering the market, the electric motorcycle segment remains underdeveloped. Ola Electric expects increased supply in popular price segments, driven by R&D and technological advancements, to boost electric motorcycle adoption.
Ola Electric leads the electric two-wheeler market with over 30% market share, competing against Bajaj Auto, TVS Motor, and Ather. Ola offers three electric scooter models: S1 Pro, S1 Air, and S1 X, with the S1 X available in three variants featuring battery capacities from 2 kWh to 4 kWh.
Last year Ola launched its second-generation platform, providing enhanced features and lower material costs compared to its first-generation models. The company’s manufacturing facility, Ola Futurefactory in Krishnagiri, Tamil Nadu, has an annual capacity of one million units, with a utilisation rate of 36% in 2022-2023. Ola Electric is also establishing a “Giga Factory” for in-house cell manufacturing in Krishnagiri, which is expected to reduce vehicle costs in a price-sensitive market.
