Ola will build a new production facility near its two-wheeler plant in Tamil Nadu as part of its ambitious electric vehicle design.
Highlights
- Ola Electric stated that its first electric car will be available by 2024 in honor of India’s 75th anniversary of independence.
- The business wants to build cars starting at Rs 1 lakh and going up to Rs 50 lakh, starting with its electric scooters.
- Ola plans to release its four-wheel EV by the summer of 2024.
At a press conference on Monday, held in conjunction with India’s 75th anniversary of independence, Ola Electric announced that its first electric vehicle will be released by 2024.
Additionally, it unveiled a version of its electric scooter priced around Rs 1 lakh.
Ola co-founder and principal superintendent Bhavish Aggarwal also remarked during a press conference in Bengaluru that “So far, electric mobility has been defined by the West and, to some extent, China.
A new manufacturing facility will altogether be built close to Ola’s two-wheeler plant in Tamil Nadu as part of its ambitious electric vehicle concept.
All in all, by the summer of 2024, Ola hopes to introduce its four-wheel EV.
The company promises that the vehicle will have a range of more than 500 km and the capacity to accelerate from 0 to 100 km/h in under four seconds.
For the car design, the business was hoping to recruit 3,000. The CEO of Ola stated on Monday that the company is almost at 1,000.
On July 18, Ola said that it will invest around $500 million in a Bengaluru installation for the discovery and development of battery cells.
The company’s goal is to build cars starting at Rs 1 lakh and going up to Rs 50 lakh, starting with its electric scooters.
Ride-hailing services are profitable
The commercial follows layoffs at Ola’s lift-hailing company, as reported by ET on July 29.
Ola has been less focused on its EV business since several key employees from its primary lift-hailing company have migrated to work at Ola Electric.
Both are very different enterprises. Ola is a lift-participating company, we’re leaders in India, we’re doing veritably well there, we’re veritably profitable, and it’s a veritably well-run company.
The business is operated by professional troops. We’ll participate in plans for ride-hailing in a few months, Aggarwal said on Monday.
Sales declines and fire occurrences
Speaking about how their scooters catching fire affected sales, Aggarwal stated, “We’ve always believed from day one that India should be a world leader when it comes to safety values.
We formerly had a respectable, if not excellent, safety framework and testing apparatus. The government wants to improve that, and we fully support it.
The government wants to improve that, and we fully support it. Anshul Khandelwal, the chief marketing officer at Ola Electric, said that “seasonal and cyclical issues” that affected the overall industry were to blame for the fall in sales.
Beginning on Monday, reservations for the new Ola S1 variant’s early access are available for Rs 499. During this Diwali season, Ola also intends to deploy Move OS 3, an update to its operating system.
Beginning on Monday, reservations for the new Ola S1 variant’s early access are available for Rs 499. During this Diwali season, Ola also intends to deploy Move OS 3, an update to its operating system.
Aggarwal said that more than 75 visitors had their service requests met in a single day. “Hyper charging network is currently not operating,” he stated.” To stretch our service network, we gave our powers priority.”
“Hyper charging network is currently not operating,” he stated.” To stretch our service network, we gave our powers priority.”
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