Ola Electric crosses ‘fastest-ever’ 1 lakh vehicle production in 10 months
1 min read . Updated: 04 Nov 2022, 12:53 PM IST
Premium- The company unveiled Ola Future Factory in Krishnagiri district in Tamil Nadu last year. Claimed to be the world’s largest two wheeler factory. It is an integrated facility spread over 500 acres with manufacturing, battery as well as supplier parks.
Ola Electric has reported crossing the production of 1,00,000 vehicle units in November 2022. The company's CEO Bhavish Aggarwal has announced via a post on Twitter. “Crossed 1 lakh vehicles produced yesterday. In just 10th month of production, probably fastest ever for a new auto company in India. Just getting started and #EndICEage is coming nearer and nearer!" the tweet reads.
Ola, which is backed by Japan's Softbank Group, currently makes e-scooters in India. The company unveiled Ola Future Factory in Krishnagiri district in Tamil Nadu last year. Claimed to be the world’s largest two wheeler factory. It is an integrated facility spread over 500 acres with manufacturing, battery as well as supplier parks. Ola Electric e-scooter lineup consists of three scooters – Ola S1, Ola S1 Pro and the cheaper Ola S1 Air which was unveiled recently.
In another Twitter post, Aggarwal has shared the company’s cumulative production numbers for November 2021 and 2022 which stood at 0 and 1,00,000, respectively. He also revealed the projected cumulative production numbers for November 2023 and 2024. The company aims to grow 10x year-on-year with vehicle production reaching 10,00,000 and 1,00,00,000 in November 2023 and 2024, respectively.
Recently, the company reported sales of 20,000 units in October 2022. Ola Electric said that it registered a strong performance during the festive season. Sales recorded a four-fold growth over daily run rate during Navratras, and ten times on Vijayadashami, the company said in a statement.
On an average, the company has been producing 1,000 units a day. “20000 Ola S1 units sold in October, highest ever for an EV company in India! 60% growth month on month for
@OlaElectric. The Ola community is now bigger than ever and Mission Electric 2025 is in sight! We will #EndICEage together", says Aggarwal in a tweet.
The company recently launched its most affordable electric scooter – Ola S1 Air in the country. Price of the new electric scooter is set at ₹85,000 (ex-showroom). The new Ola electric scooter will compete against Honda Activa, TVS Jupiter, Suzuki Access and Yamaha Fascino.
