The first electric vehicle from Ola will be a high-end model and should make its appearance in 2024. Ola’s CEO, Bhavish Aggarwal, recently disclosed that the company would offer automobiles in the entry-level segment.
According to CEO Bhavish Aggarwal, Ola Electric intends to introduce its first electric vehicle for India in the summer of 2024. Aggarwal has continued to pursue his electric car ambition despite the many obstacles in the way, claiming that India must take the lead in the EV revolution and control 25% of the global auto market.
In India, the second quarter saw EV penetration rates of 3.7% for two-wheelers and 1.2% for passenger vehicles, respectively (Q2 2022).
The first Ola electric vehicle will probably be a high-end crossover, and the company will enter the Indian electric vehicle industry from the top down. According to PTI, CEO and Co-Founder of Ola Electric Bhavish Aggarwal said that the company’s first electric vehicle would cost between Rs. 40 and Rs. 50 lakh.
On August 15, during the virtual debut of the Ola S1, Ola said that it would deploy its first electric vehicle in 2024. One of the fastest automobiles in India, it is believed to go from 0 to 100 kilometres per hour in about 4 seconds.
On a single charge, its range will exceed 500 kilometres. The EV will also have a glass roof and utilise the MoveOS operating system from the business. Additionally, it is confirmed to have keyless and handleless doors as well as assisted driving features.
Ola
Bhavish Aggarwal emphasised the EV startup’s interest in taking a top-down strategy to the EV automobile market. The business plans to release more expensive versions first, followed by premium ones.
The Ola product line would range from Rs 1 lakh (entry-level two-wheelers) to Rs 40-50 lakh (luxury electric car). The company’s ambition is to be a “global leader in mid-size, mini, and premium electric automobiles that are fit for markets and consumers like India. In India, the e-car will be the “quickest and sportiest,” according to Bhavish.
“We undoubtedly have a thorough roadmap in the works for the automotive industry. Cars at the entry-level market will undoubtedly be available. Starting with a high-end vehicle that will be available in 18 to 24 months. We anticipate that by 2026 or 2027, we will aim to sell a million automobiles annually across all of the goods that we will introduce, he continued.
