Ola Electric rides into gig segment

Set to launch sub-₹40K e-scooter; aims for wider adoption through collaboration with Ola Cabs

- ANJALI SINGH

With India's gig economy projected to double in size, reaching over 10 million workers in the coming years, Ola Electric unveiled its new line of budget-friendly e-scooters, starting at under ₹40,000.

The market responded positively, with Ola Electric's stock rising by 5.67 per cent, closing at ₹73.47 on the BSE.

The new range includes the Ola Gig, priced at ₹39,999, specifically designed for gig workers making shorter trips. The S1 Z series starts at ₹59,999, offering an affordable alternative to the original S1 model.

Ola Electric Chief Executive Officer Bhavish Aggarwal posted on X that the S1 Z is the same as the S1 but at a more accessible price point.

In another post, he wrote: "India's gig economy will be 2x in the next few years with more than 10 million workers. These workers unfortunately have to ride poor quality products at a much higher price."