Latest news with #Gen3
The Verge
4 hours ago
- The Verge
Hunter Douglas adds Matter support to its smart shades.
Hunter Douglas adds Matter support to its smart shades. A firmware upgrade for its PowerView Gen 3 platform is now available, allowing users to control their shades locally via Matter platforms , including Apple Home, Google Home, Amazon Alexa, and others. Hunter Douglas first said it would bring Matter to its smart shades back in 2022, and is finally following through. However, the upgrade is only coming to the gen 3 shades connected to a PowerView Gateway or Gateway Pro.
Time of India
15-07-2025
- Automotive
- Time of India
Ola Electric surges on D-St, but analysts still advise caution
Shares of electric two-wheeler maker Ola Electric Mobility rallied about 20 per cent on Monday, the biggest single-day move in eight months, after the company's first-quarter results were better-than-expected. The stock is best suited for high-risk traders and investors, as analysts warn of continued sharp price swings in months ahead. Ola ended at ₹47.7 on Monday, up 19.75 per cent , after hitting a fresh 52-week low of ₹39.6. ' Ola Electric 's Q1 shows a sharp operational turnaround—losses narrowed from ₹870 crore to ₹428 crore, gross margins hit a record 25.6 per cent , and the auto segment turned Ebitda (earnings before interest, taxes, depreciation, and amortization)-positive in June,' said Jahol Prajapati, research analyst at Samco Securities . Its revenue from operations also rose to ₹828 crore in the June quarter from ₹611 crore in the previous quarter. However, it was down almost 50 per cent from the same period a year ago. 'The company's bullish forecast of 35-40 per cent margins and upcoming ramp-up of new products further renewed interest in the stock,' said Sagar Shetty, research analyst, StoxBox. 'The growth during the quarter was largely supported by the successful launch of its Gen 3 scooters, aiding the company to maintain accretive margins.' The company said in an exchange filing that it expects to sell between 325,000 and 375,000 vehicles and generate revenue of ₹4,200-₹4,700 crore for FY26. Ola shares are down around 48 per cent since their debut in August 2024. As the stock declined, retail investors increased their stakes in the company. The percentage of retail shareholders holding less than ₹2 lakh in the company has increased to 12 per cent in the March quarter from 4.45 per cent at the time of listing. Shetty said that Ola continues to cede significant market share to established players and has a track record of overly optimistic guidance. 'We recommend investors maintain a cautious approach and suggest that they wait to see how the second quarter unfolds in terms of sales and overall performance,' he said. Prajapati said Ola is building a 'credible profitability' story, on account of continued cost discipline, improving warranty dynamics, and an FY26 target of 35-40 per cent gross margins. 'For investors with a high-risk appetite, it's a bold EV play on vertical integration. Conservative investors might still prefer steadier names like TVS or Bajaj for now,' he said.
Time of India
14-07-2025
- Automotive
- Time of India
Ola Electric shares jump nearly 20% despite halved revenue, continued losses
BENGALURU: Shares of Ola Electric surged 19.75% on Monday to close at Rs 47.66, even as the company reported a sharp year-on-year drop in revenue and a consolidated net loss of Rs 428 crore for the quarter ended June 30, 2025. The stock hit an intraday high of Rs 47.76 on the NSE, up from its previous close of Rs 39.80. The rally came despite the company's revenue from operations halving to Rs 828 crore in Q1 FY26, from Rs 1,644 crore in the same quarter last year. On a sequential basis, revenue rose 35.5% from Rs 611 crore in Q4 FY25. Ola's net loss narrowed from Rs 870 crore in the previous quarter, while Ebitda losses reduced to Rs 237 crore from Rs 695 crore. Vehicle deliveries for the quarter stood at 68,192 units, up 32.7% sequentially, aided by stronger demand for its Gen 3 scooter portfolio, which now accounts for over 80% of total sales. The company's auto segment turned Ebitda positive in June, its first profitable month since launch. Gross margins in the auto business improved to 25.6% in Q1, from 13.8% in Q4, helped by internal cost controls, vertical integration and lower warranty costs. Despite the top-line contraction, investor sentiment appeared buoyed by the company's operational turnaround efforts. On a post-earnings analyst call, founder and CEO Bhavish Aggarwal said Ola was 'structurally profitable' at the auto level and would remain Ebitda positive from Q2 onwards. He also cited cost-cutting measures under Project Lakshya that brought down monthly opex in the auto business from Rs 178 crore to Rs 105 crore. Free cash flow improved to -Rs 107 crore from -Rs 455 crore last quarter. Ola said it is on track to commercially deploy its in-house Bharat 4680 cell by the Navratri festival and launch High-Voltage Rare-Earth-free (HRE) motors in Q3. The company reaffirmed its FY26 guidance of 3.25-3.75 lakh vehicle sales and revenue of Rs 4,200-4,700 crore, with auto Ebitda expected to exceed 5% for the full year. The adoption of its paid software layer, MoveOS+, rose to nearly 50% of new users in Q1, up from 2% in Q4. 'This is a true digital business within our hardware business,' Aggarwal told analysts, projecting multi-hundred crore topline potential from software in the coming years. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
14-07-2025
- Automotive
- Business Standard
Ola Electric Mobility Q1 results: Loss widens 23%, revenue falls 50%
Ola Electric Mobility posted a deeper net loss for the quarter ended 30 June, as the electric scooter maker contended with a sharp drop in revenue. The company reported a consolidated loss of ₹428 crore, widening by 23 per cent from ₹347 crore in the same period a year earlier. Revenue from operations slumped nearly 50 per cent to ₹828 crore, down from ₹1,644 crore a year ago. The steep decline in sales was partially offset by cost-cutting measures, with total expenses falling 42 per cent year-over-year to ₹1,065 crore. The results highlight the challenges facing India's electric vehicle sector, as it grapples with softening demand and heightened competition, even as firms push to scale production and capture market share. Ola's market share is slipping amid rising competition from incumbents like Bajaj Auto and TVS. While losses widened year-over-year, the company's net loss declined by more than 50 per cent on a quarterly basis. During the quarter under review, the company also reported a positive EBITDA. 'The company's auto business turned EBITDA positive in June, on the back of strong gross margins owing to the company's vertical integration strategy,' said the company in a statement. Ola Electric delivered a total of 68,192 vehicles in Q1 FY26, compared to 51,375 units delivered in Q4 FY25, marking an increase of 32.7 per cent quarter-on-quarter (QoQ). The auto segment EBITDA improved sharply to -11.6 per cent, compared to -90.6 per cent in Q4 FY25, with June marking the first EBITDA-positive month for the auto business. The consolidated EBITDA also saw a substantial recovery to -28.6 per cent from the previous quarter. The company's cost optimisation initiative, Project Lakshya, has driven significant operating efficiencies, reducing monthly auto operating expenses from ₹178 crore to ₹105 crore. Consolidated operating expenses now stand at ₹150 crore per month, with further reductions targeted to approximately ₹130 crore per month through FY26. Operating cash flow for the auto business was nearly neutral in Q1, and free cash flow improved to -₹107 crore, a significant improvement from -₹455 crore in Q4. Ola Electric's product roadmap continues to yield strong customer traction. The newly introduced Gen 3 scooters accounted for 80 per cent of total scooter sales during the quarter. These scooters have not only delivered better margins but have also significantly reduced warranty claims, reflecting the company's ongoing engineering improvements. Meanwhile, the rollout of Ola Electric's Roadster X motorcycles is progressing in phases, with the product now available in 200 stores across India and set to scale further during the upcoming festive season. On the software front, MoveOS+ adoption surged to nearly 50 per cent in new customers (up from 2 per cent in Q4). One of Ola Electric's most significant technological advancements is the in-house production of its 4680 Bharat Cell, which will begin powering vehicles starting this Navratri. The company expects that by the end of FY26, it will fully utilise the 1.4 GWh capacity, and install the remaining capacity to reach 5 GWh, scaling consumption to 5 GWh through FY27. The company has also successfully developed Heavy Rare Earths (HRE)-free motors, which are scheduled for production deployment in Q3 FY26. These initiatives, enabled by the company's deep investment in vertical integration and R&D, are designed to reduce costs and enhance performance.
The Star
11-07-2025
- Automotive
- The Star
Motor racing-Formula E and FIA set for long-term contract extension
Formula One F1 - Monaco Grand Prix - Circuit de Monaco, Monaco - May 22, 2025 General view of the FIA logo ahead of the Monaco Grand Prix REUTERS/Stephanie Lecocq LONDON (Reuters) -Formula E is set to extend an exclusive deal with motorsport's world governing body that will ensure it remains the only all-electric racing series sanctioned by the FIA for decades to come. Formula E, majority owned since last year by telecoms company Liberty Global, started out in 2014 with a 25-year licence. FIA president Mohammed Ben Sulayem let slip to reporters during last weekend's British Formula One Grand Prix that an extension to the Formula E contract was done and "would come up soon". Formula E chief executive Jeff Dodds told Reuters on Friday ahead of the season's penultimate round in Berlin that there was nothing official. He said, however, to expect various announcements at the London season-ender this month. Formula One is starting a new engine era next year with a 50/50 split between combustion and electric but Ben Sulayem has said the Liberty Media-owned sport could go back to noisy V8 engines by 2029. "If they (F1) choose to keep using it (the 2026 engine), we'll choose to keep talking about the fact that they like the (electric) technology so much they integrate it into their race cars," said Dodds. "If they choose to go back to V8s, then we would absolutely leverage the fact that we would then be the only electric championship and everything that that means." MCLAREN EXIT Formula E is likely to be reduced to 10 teams, from 11 at present, next season after the withdrawal of Formula One champions McLaren to focus on endurance racing. McLaren had sought a new owner for the team but Dodds said the time frame was too tight for interested parties and it would revert to Formula E, barring a late twist. "As it stands unless something changes, and I never say never in Formula E or motorsport, their last race would be London," he added. "The team slot would vacate, which means the licence would revert to us, and then we have a lot of other interest in joining the championship. "The chance of somebody joining for one year of Gen3 is unlikely but the chance of somebody coming in and starting to develop with a future coming in for Gen4 is much more likely." Formula E will be in the last year of its Gen3 era next season, with the more powerful and faster Gen4 car then coming in for 2026/27. Nissan's British driver Oliver Rowland can clinch the 2024-25 championship in the Berlin double-header this weekend, and would be the series' 10th different champion in 11 seasons. (Reporting by Alan Baldwin, editing by Pritha Sarkar)
