Ola Electric Will Expand To International Markets; Nepal Launch Confirmed!

While marking its first entry with Nepal, Electric vehicles (EV) manufacturer, Ola Electric announced that it plans to enter international markets. 

In the same regards, the automaker  has signed a Memorandum of Understanding (MoU) with CG Motors in Nepal. 

This way, CG Motors will be its first local distributor for its popular Ola S1 scooters (S1 & S1 Pro), as part of this deal.

With this move, Ola electric scooters, the S1 and S1 Pro, will be made available in Nepal as early as next quarter.

Entering In International Market 

The company is looking to gain a presence in at least five international markets including Latin America, Southeast Asia and Europe on its radar, according to its release.

On this occasion, the Founder and CEO, Bhavish Aggarwal said, “Our international expansion not only means that we will as a company be able to serve customers in these similar regions, but it is also testament to the fact that India will lead the EV revolution for the world.”

Recently, Ola Electric unveiled its ambitious 4-wheeler project with the first public reveal of a car.

 The automaker claims to have the best performance, design, and technology ever built in India.

Notably, Ola was also the only Indian EV company which was chosen by the government under its ambitious Rs 80,000 crore cell PLI scheme.

Sales Affected By Chip Availability And Lockdown 

The EV maker had set a target to produce a million electric cars, 10 million two-wheelers, and 100 Gigawatt per hour (Gwh) of battery cells every year.

Ola plans to manufacture all this in its new battery-making facility in Krishnagiri, Tamilnadu.

When it comes to sales, Ola Electric had sold 3,426 vehicles in July 2022.

The numbers are down 42 percent month-on-month due to chip shortages and spill-over effects of the pandemic-led lockdowns. 

The data from the industry body Federation of Automobile Dealers Association (FADA) shows that the firm sold 5,874 two-wheelers in June.

the company’s statement said, “Ola Electric is the only Indian EV company selected by the government under its ambitious Rs 80,000 crore lithium Ion cell PLI (production linked incentive) scheme, receiving the maximum capacity of 20 GWh for its bid in March. In addition, it has also been chosen under the PLI scheme for manufacturing EVs.”