Ola Electric is planning to sell e-motorcycles by the end of 2023 and cars by 2024. The company made this statement at the unveiling of their entry-level Ola S1 Air electric scooter, which went on sale for ₹79,999. Ola Electric’s founder, Bhavish Aggarwal, stated that the company plans to establish itself in three market segments mass, mid-segment, and luxury superbikes.
At the launch, Aggarwal said, “I have studied the ₹80,000 to ₹10 lakh motorcycle market and such hyper segmentation in EVs is not needed. In bikes, there is a lot more room for bringing a new sphere of technology and we will be announcing this by the end of next year,”
In the past several months, Ola Electric has had a rock-solid sales record in the electric scooter sector. This is one of the factors driving the business to double down and build reliable supply chains for EV parts. The company is already in the process of finishing a battery production plant that will produce 2170 type cells, assisting Ola Electric in expanding into additional EV categories.
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Bhavish Aggarwal commented on the total expansion of the two-wheeler electric vehicle sector in India by stating that the company had only produced 4,000 units when it first began. Currently, EVs account for 15% of the overall scooter market. “The number is considerably higher at 40% of new scooter sales in places like Delhi, Bengaluru, and Pune,” he added.
The new S1 Air scooter from Ola is the company’s mass-market offering; it has a hub-mounted motor with a peak output of 4.5 kW and a smaller 2.5kWh battery pack. The scooter has three riding modes: Eco, Normal, and Sports, and its range is 100 kilometers (in Eco mode). Deliveries of the scooter will start in April next year, and reservations can be made for ₹999. This new scooter will go up against the entry-level models of the TVS iQube, Bajaj Chetak, Okinawa, and Ampere.