Foreign Brokerages Bullish on Ola Electric: Citi Highlights Market Strength
Global brokerages, including Citi, Goldman Sachs, HSBC, and BoFA Securities, maintain a positive
outlook on Ola Electric, citing its leadership in India's EV sector and long-term growth potential.
Citi’s Key Observations
Citi, in its latest report, assigns a "Buy" rating with a target price of ₹90, spotlighting Ola's 38%
market share in the two-wheeler EV space (FY25 YTD). The brokerage sees upcoming launches of
motorcycles and electric three-wheelers as major growth drivers. While service quality
challenges persist, Citi believes supply chain improvements will address these issues over time,
reinforcing the company's position amid industry consolidation.
Broader Brokerage Sentiment
∙Goldman Sachs (Target: ₹137): Emphasizes Ola’s market growth potential and focus on
addressing service network gaps.
∙HSBC (Target: ₹110): Sees growth in product launches and battery advancements but
flags operational risks.
∙BoFA (Target: ₹120): Highlights Ola's market leadership and profitability drivers while
noting service scalability challenges.
Product Innovation: Ola PowerPod
Ola's recently launched PowerPod, priced at ₹9,999, showcases its battery innovation by
doubling as an inverter for household power needs. This product, with a 1.5kWh capacity,
supports essential devices for up to three hours, targeting semi-urban and rural markets
Ola GenZ |
Ola GenZ+ |
Ola Gig |
Ola Gig+ |
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