By 2024, Ola Electric plans to introduce its first electric vehicle, the business announced at a press conference on Monday, which also happened to be India’s 75th anniversary of independence.
It also unveiled a version of its electric scooter priced under Rs 1 lakh.
“So far electric mobility has been defined by the West and to a certain extent China … India has a very different requirement,” Ola cofounder and chief executive Bhavish Aggarwal said, while drawing up his EV plans during the press conference in Bengaluru. “A majority of the world has context, dynamics, weather which is similar to India and India can be the leader. For that, as an industry, we need to have a long-term vision, and the government has done a lot to encourage the PLI scheme.”
In Tamil Nadu, Ola’s ambitious electric-car project will involve the construction of a brand-new manufacturing facility next to its two-wheeler factory.
Ola says its four-wheeled EV will make its debut by the summer of 2024 and will have a range of more than 500 km and the ability to accelerate from 0 to 100 km/h in only four seconds. According to Aggarwal, the company’s first vehicle will be a “luxury” product and the “fastest and sportiest car” India has ever seen.