Ola electric hits $7 billion valuation after e-motorcycle launch and battery plan

Ola Electric, India’s leading e-scooter maker, saw its valuation rise to $6.99 billion after launching new electric motorcycles. Shares jumped 20% as investors welcomed plans to reduce costs through in-house battery production. The company enters a competitive market dominated by established players. Ola’s stock has surged 75% since its August IPO, which raised $734 million, outperforming initial expectations despite earlier valuation adjustments due to market conditions.