Shares of India’s Ola Electric (NSE:OLAELEC) rose 4.3% to 41.48 rupees on Monday after the electric scooter maker reported a narrower sequential loss and provided an optimistic outlook on future profitability.
The company projected that its gross margins would improve significantly, reaching 35%-40% in fiscal year 2026, up from 20.5% in fiscal year 2025.
In another development that could potentially reduce manufacturing costs, Ola Electric announced it has developed motors that do not require rare earth materials.
The company plans to deploy these new motors in the third quarter.
