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Business News/ Companies / News/  Ola sells 1.5 lakh electric scooters in 2022
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Ola sells 1.5 lakh electric scooters in 2022

Ola Electric currently offers two electric scooters - Ola S1 Pro and Ola S1, while a lower-priced version, Ola S1 Air, is expected to hit the roads in April next year after its launch in October.

Bhavish Aggarwal, chief executive officer and co-founder Ola Cabs and Ola Electric. (Photo: Bloomberg)Premium
Bhavish Aggarwal, chief executive officer and co-founder Ola Cabs and Ola Electric. (Photo: Bloomberg)

NEW DELHI: In a year that saw Ola Electric face criticism on a range of issues, the electric vehicle (EV) manufacturing arm of the ride hailing platform sold nearly 1.5 lakh EVs in 2022, having launched its first electric two-wheeler last year.

Ola is set to launch more electric two-wheelers including a mass market scooter, premium motorcycle, and a mass motorcycle, in the next couple of years, co-founder and chief executive officer Bhavish Aggarwal said in a blog post on Wednesday.

Terming 2022 the “Beginning of the End for ICE Age," as the year marks the shift from internal combustion engines (ICE) to EVs, Aggarwal said, “We have sold almost 1,50,000 EVs this year and are working towards the Mission Electric – all 2W sold in India by the end of 2025 to be electric, and all cars sold in India by 2030 to be electric."

Ola Electric currently offers two electric scooters - Ola S1 Pro and Ola S1, while a lower-priced version, Ola S1 Air, is expected to hit the roads in April next year after its launch in October.

Additionally, Ola aims to launch about six electric four-wheelers by 2027, after its first four-wheeler‘s launch, expected in 2024.

The electric mobility firm had announced plans to launch its first four-wheeler in India by summer of 2024 in August. The car, Aggarwal had said, will be one of the ‘fastest’ and the ‘sportiest’ cars to be built in India, with the ability to go from 0-100 km/hour within 4 seconds and have a range of 500 km after every charge.

Earlier this year, Ola received flak following reports of its two-wheelers catching fire, causing injuries to some customers. There were also complaints on range and quality issues of its EVs.

Amid this, the IPO-bound company aims to follow a three-pronged strategy to execute its Mission Electric, launched in 2018. Under the mission, the electric mobility company had announced plans to bring one million EVs on the road by 2021.

One of its key strategies will be product diversification and global scale manufacturing, Aggarwal said. “In 2023 and 2024, we will launch many more 2W EV products – a mass market scooter, a mass market motorcycle, and multiple premium motorcycles (sports, cruisers, adventure and road bikes)."

Ola also plans to commission its cell manufacturing plant with a capacity of 5GWh by the end of 2023, in a bid to localise lithium-ion cell manufacturing, he said.

In July, Ola Electric unveiled India’s first indigenously developed lithium-ion cell. The company was allocated 20 GWh capacity under the ACC PLI scheme by the government for developing advanced cells in the country, and is setting up a cell manufacturing facility with an initial capacity of upto 20 GWh, localizing the most critical part of the EV value chain.

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Published: 28 Dec 2022, 06:07 PM IST
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