It’s not much late since we admired and were fascinated by the development in the field of electric vehicles brought in the industry by Tesla. Well, India too is leading in terms of technology and automobiles and is certainly approaching the development and adoption of electric cars. Ola, the leading name in the automobile sector, is coming up with the concept of electric vehicles in India.
Back on August 15 of the year 2021, Ola marked the launch of its first electric two-wheeler in the Indian market, which received a significantly great response from the consumers. Following the launch, Ola received around 1 million reservations for its electric scooter, which shows that India is inclined towards the adoption of electric vehicles.
The CEO of Ola, Bhavish Aggarwal, released a statement back then that revealed they are planning to introduce an electric car by the year 2023. This was in further advancement of the collaboration between Softbank Group of Japan and Ola, who aim to make India a global electric vehicle hub.
Ola and the Emergence of Electric Cars in India
The company is working committedly on their electric car after marking the launch of the two variants of their much-awaited electric scooter, the S1 and the S1 Pro. Ola S1 holds the capability to cover 121 km of distance in one single charge, whereas the Ola S1 Pro has the ability to cover a 181 km range in a single charge. The cost of the two variants of the Ola electric scooters are 99,999 and 1,29,999 INR, respectively.
Bhavish Aggarwal made an announcement regarding the launch of the Ola electric car by the year 2023 with the funds backing from the giants like Softbank and Temasek.
Talking about the details that we have gathered related to the Ola electric car, the electronic vehicle appears to be a design concept for the Ola e-car. We are talking about a stylish battery-electric hatchback. Back in the month of January of the year 2022, Bhavish shared a teaser image for the design concept of the Ola electric car.
As revealed by one of the officials at Ola, currently, there is currently a facility for the manufacturing of two-wheelers, and four-wheelers will be needing another future factory. Well, we should note that Ola is yet to make announcements and revelations regarding further developments and details of their much-awaited electric car.
However, we should keep note of the fact that it was revealed that the Ola electric car is most likely to be built at the EV Manufacturer’s factory in Tamil Nadu. Well, you must know that the manufacturing facility at Tamil Nadu is currently claimed as the largest plant for electric scooters in the world.
India Leading in Technological Advancements Adoption
As India is leading in terms of technology, we are witnessing advancements in the automobile sector, too, along with the increase in the demand for electric vehicles in the country. Being already aware of the fact that major growth is expected in the electric cars segment as the price of diesel and petrol are constantly soaring to new heights.
Other factors that will be contributing to the growth in the adoption and sales of electric vehicles are the lower cost of ownership for EVs as compared to the ICE vehicles, strangling emission constraints, and emerging considerations surrounding the vehicular emission that contributes to global warming.
Amid all these situations, Ola has been thriving while making an entry into the business of selling pre-owned cars in India under the name of its new wing, Ola Cars. As for the official description of this vertical, it is known for selling used cars in select cities across the country.
Pouring light on the future plans of Ola, Bhavish released a statement that said Ola is not a company that possesses a short-term view on anything. There is certainly a big room for Ola to grow in the country, and as for the factor backing this statement, it should be noted that the company has already received a booking of over a million orders.
If everything gets executed in accordance with the plans and roadmap of Ola, the company is planning to raise a capital of $1 billion through an IPO in the near future.
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