Ola Electric Mobility on Monday announced the launch of its new S1 X+ electric scooter with a 5.2 kWh battery pack, as the company looks to widen access to long-range electric mobility even as it faces rising competitive pressure.
In a regulatory filing to the BSE, the company said the new S1 X+ 5.2 kWh is powered by its indigenously developed 4680 “Bharat Cell”, marking an expansion of its in-house battery technology into the mass-market segment.
The 4680 “Bharat Cell” is an in-house lithium-ion cell format, which means the company is trying to control more of the battery supply chain rather than relying on imported cells. If successful at scale, this reduces dependency on foreign suppliers and helps manage costs and margins — critical in the price-sensitive mass market. This is aligned with its long-stated plan to manufacture cells domestically at its cell facility in Krishnagiri.
The launch comes at a time when Ola Electric has been witnessing a decline in market share in India’s electric two-wheeler segment amid intensifying competition and evolving consumer preferences.
As per Federation of Automobile Dealers Associations (FADA) data, EV penetration in the electric two-wheeler market rose from 6.1 per cent in FY25 to 6.5 per cent in FY26, with overall retail volumes growing 21.8 per cent year-on-year. However, Ola Electric’s retail sales fell sharply by over 52 per cent to 1.64 lakh units in FY26 from 3.44 lakh units in FY25, indicating a significant loss of market share.
In contrast, rivals have gained ground. TVS Motor Company posted growth of 43.5 per cent, while Bajaj Auto grew 25.2 per cent. New-age players such as Ather Energy saw volumes surge 82.3 per cent, and Hero MotoCorp nearly tripled its EV sales with a 196 per cent jump. Smaller players including River Mobility and Simple Energy also reported strong growth, underscoring intensifying competition.
The launch is part of the company’s broader strategy to leverage its vertically integrated EV ecosystem — spanning cell development, battery engineering, and vehicle manufacturing — to scale advanced technologies across product categories.
Priced at an introductory ₹1,29,999 (valid till April 15, 2026), the model sits in the mass-market segment. Using an in-house cell could allow Ola to price more aggressively and protect margins, especially as competition intensifies. Batteries are the single largest cost component of an EV, so any reduction in battery cost directly impacts unit economics.
Ola S1 X+ will go against rivals like TVS Motor Company’s iQube, Ather Energy’s 450X, and Bajaj Auto’s Chetak in the ₹1–1.5 lakh segment. The iQube is priced roughly between ₹94,000 and ₹1.46 lakh, while the Ather 450X is priced around ₹1.4–1.55 lakh and the Chetak between ₹1.0 lakh and ₹1.3 lakh, placing them in direct competition with Ola’s offering.
“With S1 X+ 5.2 kWh, we are taking our 4680 Bharat Cell to the mass market at scale,” an Ola Electric spokesperson said, highlighting the role of vertical integration in driving innovation and cost efficiencies.
The introduction of longer-range models at accessible price points could help the company strengthen its positioning in the mass segment, especially as range and value-for-money remain key considerations for EV buyers.
What remains to be seen is whether these cells are already being mass-produced or if this is still an early-stage rollout, how they perform in real-world conditions, and whether they can deliver a meaningful cost advantage over imported cells once scaled.
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