Ola Electric was established in 2017. It was founded by Bhavish Aggarwal, who previously co-founded Ola Cabs. A product of IIT Bombay, Mr Aggarwal began his career with Microsoft.
On 6th May 2019, Ola Electric announced that Ratan Tata had invested an undisclosed amount in the company. Earlier, Mr Tata had invested in Ola’s cab business as well.
Ola Electric acquired Amsterdam-based electric scooter manufacturer ‘Etergo’ in May 2020. Etergo had built a scooter that used swappable batteries and offered a higher-than-standard range. The scooter’s design, tech and efficiency was so impressive that its maker was called the ‘Tesla of scooter world’.
In December 2020, the company announced its plan to set up the world’s largest two-wheeler factory (called the Ola Futurefactory) in Tamil Nadu at a cost of Rs 2400 crore after signing an MoU with the state government of Tamil Nadu.
Ola Futurefactory:
The Ola Futurefactory is spread in a 500 acre area located in Pochampalli town in the Krishnagiri district of Tamil Nadu. The fully-automated manufacturing facility is the world’s largest two-wheeler factory.
In March 2022, Ola made a strategic investment in Israel-based battery technologies company ‘StoreDot’. Ola Electric will incorporate and manufacture StoreDot’s fast charging battery technologies for future vehicles in India. StoreDot is a pioneer of extreme fast charging (XFC) batteries that overcome two critical barriers to mainstream EV adoption: range anxiety and long charging time.
At present, Ola Electric has three electric scooters in its portfolio:
Ola S1: The first electric scooter from Ola Electric, named the Ola S1, comes with two battery options: 2 kWh & 3 kWh. The range offered is 91 km & 141 km respectively.
Ola S1 Pro: The premium variant of the S1 comes in a single variant with a battery pack of 4 kWh. The S1 Pro offers a range of 181 km.
Ola S1 Air: The company’s most affordable offering ‘S1 Air’, is available in three battery options: 2 kWh, 3 kWh & 4 kWh, with range of 85 km, 125 km & 165 km respectively.
Prices shown below:
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Ola Hypercharger Network:
Ola Electric announced its plans for setting-up an EV charging infrastructure and unveiled the ‘Ola Hypercharger Network’, an extensive two-wheeler charging network. An Ola e-scooter can be 50% charged in just 18 minutes providing superior range confidence. The first charger was inaugurated in October 2021.
Ola EV chargers are designed for charging Ola electric scooters only.
On 20 June 2022, Ola Electric teased its first electric car. Ola says that it aims to deliver over 500 km in one full charge and 0-100 times in just 4 seconds.
Ola Electric’s first electric car will be a sedan. The company released a small teaser which revealed a rectangular steering wheel. Ola is going premium with its first electric car and its likely to be priced between Rs 40-50 lakh.
Recently, the company has announced its plans for an electric motorcycle.
At the launch of the S1 Air electric scooter, Ola CEO Bhavish Aggarwal stated that the company has plans of launching an electric motorcycle and further details of the product will be shared by Holi 2023.
Ola Electric’s ambitious approach to introduce electric vehicles in every segment demonstrates its intent. With the upcoming electric car and electric motorcycle, the company hopes to stand out in the EV race and penetrate every segment.
