Key Sentence:
- Ola Electric Mobility Pvt. Ltd ended the week of speculation Sunday with the launch of the budget-friendly S1 and S1 Pro Ola Electric Scooter models.
- Models cater to value-tailored customers as it takes advantage of other brands of electric two-wheeled vehicles (EV) and gasoline vehicles.
The S1 costs 99,999 yen without state and government subsidies, while the S1 Pro expenses up to 129,999 yen. Shoppers will purchase the electric scooter from September 8, with deliveries starting in October in 1,000 cities across the country.
Ola will sell its scooters through a multi-channel model, including an online and offline experience center under construction. The goal is to set up adventure centers in each city over the next three months.
“The switch to electric cars is significant for our country.
We have to build technology in India. All two-wheeled vehicles in the country should be electrified by 2025. The electric car revolution is here to stay, whether you like it or not. We want 50% of all-electric two-wheelers made for the world to be made in India,” said Bhavish Agarwal, Chairman, and CEO of Ola Group, at a press conference. Ola has received more than 100,000 pre-orders for its scooters in the first 24 hours since orders opened.
It will soon have a production capacity of 1 million electric vehicles.
Demand comes not only from subways, as they are a product of urban mobility, but also from small towns, Agarwal said. “The S1 and S1 Pro are industry-leading products with incredible range, speed, and price,” he said. Said.
The cheaper S1 scooter with a 2.98-kilowatt-hour battery will reach a range of 121 km. And a top rate of 90 km/h when fully charged. The S1 Pro will have a larger 3.97 KwH battery, giving it a range of 181 km also a top speed of 115 km per hour. The Ola Electric Scooter will compete directly with Ather Energy, Ampere Electric, Scooters from Okinawa, Tork Motors and Hero Electric, and Honda Activa.
Founded in 2017, Einhorn Ola Electric is backed by SoftBank and is the EV offshoot of the Ola platform operated by ANI Technologies Pvt. GmbH. The launch comes at a time when Tesla, led by Elon Musk, is entering India. The government is seeking to ramp up the production of electric cars, batteries, and other components amid soaring gasoline prices.
Ola Electric also aims to bring electric scooters to overseas markets, including Europe, Latin America. Other parts of Asia, which Agarwal says will be “soon.” Europe is more open to electric cars and two-wheelers.
There will be more development in the market in the next 4-5 years,” he said.
Ola Electric is building a so-called “Future Factory” on approximately 500 hectares in the Krishnagiri district of Tamil Nadu. When completed, it will produce 10 million electric scooters annually, making it the world’s largest two-wheeler manufacturer. 2 million electric scooters will be produced, sold, and exported to India in the first phase.
For comparison: market leader Hero MotoCorp produces around 6.5 million two-wheelers annually. While 22-25 million traditional two-wheelers with a combustion-engined are sold in India each year. Ola will also set up a home service network in every city that sells its scooters. As a result, buyers can expect a 40% lower total cost of owning their electric car compared to petrol scooters, Agarwal said.