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Business News/ Companies / News/  Ola to launch electric two-wheeler range in New Zealand
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Ola to launch electric two-wheeler range in New Zealand

Ola said its EV offering will lend to the New Zealand government's goal of on-roading 64,000 new electric vehicles by the end of 2021, while also helping the public sector become carbon neutral by 2025

The Bengaluru-headquartered company is likely to launch its two-wheeled EV range early 2021. Photo: MintPremium
The Bengaluru-headquartered company is likely to launch its two-wheeled EV range early 2021. Photo: Mint

Bengaluru: Mobility services provider Ola on Wednesday said it would unveil its electric two-wheeler range in New Zealand, helping open up new geographies for its soon-to-be-launched product offering.

The Bengaluru-headquartered company is likely to launch its two-wheeled EV range early 2021, and the segment could become the biggest vertical for the cab-hailing company.

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Ola said its EV offering will lend to the New Zealand government's goal of on-roading 64,000 new electric vehicles by the end of 2021, while also helping the public sector become carbon neutral by 2025.

“We are excited about bringing our electric 2 wheelers to New Zealand to further accelerate development of sustainable solutions. Climate change is a serious challenge and Ola is committed to moving the world to sustainable mobility through our products," Bhavish Agarwal, chairman and Group CEO, Ola, said in a statement.

Ola aims to launch the EV in multiple countries, including India, and is expected to finalize the location for its 2-million-unit per annum plant near Bengaluru.

The company looks to tap the expertise of Dutch electric two-wheeler maker Etergo BV that it had acquired in May for its entry into EV manufacturing.

The company has roped in General Motors veteran Jose Pinheiro to lead its EV arm and Julien Geffard as the EV vertical’s go-to-market director for Europe. Ola has announced to hire 2000 people for its billion dollar EV business over the next year.

Ola Electric has raised about $400 million in funding from Tiger Global, Matrix India, Tata Sons Chairman Emeritus Ratan Tata and others to fuel its pursuit of green and sustainable business offering.

“We’ve witnessed strong and steady growth in the e-scooter and e-bike sector so we believe Ola’s new scooter product will be welcomed by consumers as a way to contribute towards establishing a 0-carbon economy," Brian Dewil, Managing Director, Ola (NZ) said in a statement.

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Published: 09 Dec 2020, 01:09 PM IST
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