Ola Electric share price jumps over 3% after receipt of this government approval

Ola Electric shares, which are facing a tough year, posted smart gains of over 3% on Tuesday, December 30, following the announcement of government certification for its 4680 Bharat Cell Powered Roadster X+ Motorcycle.

The Roadster X, powered by its indigenously developed 4680 Bharat Cell battery pack, has been approved under the Central Motor Vehicle Rules (CMVR).

"With this certification, Ola Electric will now begin deliveries of the Roadster X (9.1kWh), marking a significant milestone as it becomes the first electric motorcycle in India to be certified with a completely in-house developed 4680 Bharat Cell battery pack," it added.

An Ola Electric spokesperson said that with the Roadster X+ (9.1kWh), we are delivering an unmatched range along with superior performance, safety, and reliability, powered entirely by our own cell and battery technology. "This is a defining step towards accelerating EV adoption in India’s motorcycle-dominated 2W market.”

The certification has been issued following rigorous vehicle-level safety, electrical, performance, and environmental testing, as notified by the Ministry of Road Transport and Highways (MoRTH) for certification of Battery Operated Vehicles (BoV) in the electric two-wheeler category, the company said.

Ola scales up deliveries of 4680 Bharat Cell Powered Vehicles

In another update, Ola Electric on Sunday announced the scale-up of its 4680 Bharat Cell-powered S1 Pro+ (5.2 kWh) across Tamil Nadu, Kerala, Telangana and Karnataka.

"With its own 4680 Bharat Cell battery packs in the vehicles, Ola Electric is now India’s first company to fully own the cell and battery pack manufacturing process in-house, marking a major milestone in building a fully integrated EV ecosystem in India," Ola had announced.

Ola Electric Share Price Trend

Ola Electric share price jumped as much as 3.8% to the day's high of ₹36.78, as against its last closing price of ₹35.43. The stock closed 3% higher at ₹36.59.

Despite this gain, Ola Electric shares have had a tough time, shedding 58% on a year-to-date (YTD) basis.

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