Ola Will Unleash Its 1st Electric Car On India’s 75th Independence! Can It Disrupt Indian Electric Car Market?
Ola Electric’s CEO Bhavish Aggarwal said that the company will unveil a new product on 15th of August – India’s Independence Day.
Other companies will also introduce new EVs including Mahindra Electric’s new range of electric SUVs.
Aggarwal hasn’t specified what exactly the new product would be.
However there is some evidence that suggests it might be a low cost electric scooter.
Earlier this year, Ola Electric had shared that it is developing a lower priced electric scooter for India, and that it would be launched soon.
It has suspended production of the S1 scooter, which was its entry-level offering.
Entering sub-Rs. 1 lakh segment
A major chunk of demand in the electric scooter space comes from the sub-Rs. 1 lakh segment, which Ola has not entered yet.
Ola’s biggest competitor Ather Energy is gearing up to launch a sub-Rs 1 lakh e-scooter which Ola might be looking to counter.
What to expect
Moreover it is facing slowing demand and the resultant inventory build-up due to this.
If it is indeed an entry-level e-scooter, then one can expect a smaller battery pack and perhaps a less powerful motor, as well as fewer fancy features than the S1 Pro.
First electric car?
Some think that the product could be the electric car that Ola Electric had said it was working on.
Slated to debut next year, the car promises to be India’s sportiest electric car.
It is being designed at the company’s UK design center and manufacturing will happen in India.
The company has already put out a couple of teasers for the electric car.
Two EVs, indigenous cell
There are two more products that the firm is working on- an electric motorcycle and an electric SUV.
This is still early stages so launch timelines are unknown.
Ola Electric recently announced a massive investment of Rs. 8,000 crore in a new battery research and development facility at Bangalore to develop an indugenous battery cell.