It won’t be until 2026 that we will see a mass-market electric car from the Indian EV startup, Ola Electric
After launching Move OS 3 for its customers, Ola Electric is bracing for the future. The company recently launched a new electric scooter named S1 Air at a low Rs. 80,000 price point (introductory). This way, Ola is set to bring EVs to an even larger segment of buyers.
Despite setbacks like suspension failure, software errors, etc Ola has moved ahead in the game. It is currently the highest-selling electric 2W brand in India with over 16,000 units sold in its name last month. Ola CEO Bhavish Aggarwal revealed in a blog post that in just a year, 2W EVs penetration increased to 6%, from 1%.
1.5 Lakh Scooters in 2022
Ola Electric has revealed that they sold almost 1,50,000 electric scooters in 2022. This number is set to increase in 2023. In the same blog post, Ola’s future roadmap was revealed to great extent which includes vehicles in both 2W and 4W realm and in both mass market and premium segments. Let’s take a look.
Aggarwal never dropped an opportunity to signify “The end of ICE era” and the same was reflected in this blog post. Mission Electric by Ola is set to replace all 2W with e-2W by 2025 and all 4W by e-4W by 2030. Even though this is not entirely feasible with developing markets like India, there is hope.
Under ACC PLI scheme, Ola has been allocated to manufacture batteries with a capacity of up to 20 GWh capacity by Indian Government. This will be the first stepping stone for Ola in making EVs accessible to masses. With indigenously designed and developed batteries and heavy localisation, battery prices will reduce, reducing the overall cost of an EV.
In the blog post, 6 future Ola products were demonstrated falling under different segments and different price points. To kick things off, Ola is set to offer a mass-market electric scooter in 2023. This will be targeted at ICE scooters with up to 110cc of displacement which are generally priced at around Rs. 70,000 price point.
2024 will mark Ola’s foray into electric motorcycles. The company is set to launch one premium motorcycle that is likely to cater to enthusiasts and then a mass-market electric motorcycle that might cater to premium commuter buyers. In 2025, Ola will launch a premium electric car, which has been teased multiple times and then a premium electric SUV.
Lastly, the year 2026 will mark Ola’s entry into the mass-market electric cars segment which will be a lot more widespread than it currently is. Right now, Tata Motors dominates the electric car segment in India. It is to be seen how Ola’s roadmap will translate into a feasible reality in the coming future.