Shares of Ola Electric Mobility Limited jumped as much as 9.54% on 2 April, hitting an intraday high of Rs 28.36 at 11:24 am, after the company cut the price of its Roadster X+ 9.1 kWh electric motorcycle to Rs 1,29,999 from Rs 1,89,999.

As India’s electric two-wheeler market heats up, Ola Electric is slashing flagship motorcycle prices by Rs 60,000, marking a 31% cut, to ride a demand surge.

The Bengaluru-based EV maker attributed the reduction to cost efficiencies gained from scaling production of its indigenously developed 4680 Bharat Cell at its Gigafactory, with the firm saying volumes at the plant have unlocked steep savings that are now being passed directly to buyers.

The Roadster X+ 9.1 kWh carries a claimed range of up to 500 km. Alongside the pricing revision, Ola Electric revealed it’s moving to a time-bound purchase window model, the first slot opens on 3 April between 6:00 pm and 9:00 pm. Demand for the bike surged over 5X during its recent campaign, prompting the shift.

Off the heels of its #EndICEAge campaign, under which the Gen 3 S1 X scooter and Roadster X motorcycle were both made available at Rs 49,999, the window closed on 31 March.

At 1:59 pm on 2 April, shares were trading up by 7.42% at Rs 27.81 on NSE, against a previous close of Rs 25.89.

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