BackOla Electric expands to enter international markets, signs MoU with CG Motors in Nepal
The firm has plans to enter LATAM, ASEAN and EU in the next phase, increasing the company’s presence in up to five international markets.
PremiumAfter getting a taste of success in the country, Ola Electric CEO Bhavish Aggarwal on 22 September announced that the automobile firm is planning to enter international markets starting with Nepal.
Aggarwal confirmed to have signed an MoU with CG Motors in Nepal partnering them as local distributors for its popular Ola S1 scooters (S1 & S1 Pro). The scooters will be available in Nepal starting next quarter.
He took to Twitter and wrote, "India has loved the Ola S1 scooters, ushering in our EV revolution. Now we’re taking this global! Announcing our entry into Nepal today. By end of 2022, Nepalese consumers will join the revolution."
Apart from this, Aggarwal said that Ola Electric also plans to enter LATAM, ASEAN and EU in the next phase, increasing the company’s presence in upto five international markets.
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"The global EV revolution so far has been limited to the West and to China. To truly take the EV revolution to humanity scale, India will have to be the epicenter of change. Ola is committed to creating the EV paradigm for the rest of the world by building half of the vehicles that the world needs right here in India. Our international expansion not only means that we will as a company be able to serve customers in these similar regions, but it is also testament to the fact that India will lead the EV revolution for the world," Aggarwal said in a statement.
Valued at $5 billion, the firm is on a a strong footing to become a vertically integrated mobility company.
The firm recently unveiled India’s most ambitious 4W project with the first public reveal of a car with a claim of best performance, design, and technology ever built in India.
Apart from this, Ola Electric is the only Indian EV company selected by the government under its ambitious ₹80,000 crore cell PLI scheme, that has received the maximum capacity of 20 GWh for its bid in March, it said in a statement.
Currently, over 80,000 EV enthusiasts ride Ola EV and the firm aims to take its products and services to international waters.
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