The CEO of Ola Electric, Bhavish Aggarwal, said on Monday that the company is developing its own electric car. Agarwal said that their next car replacement should be a Ola Electric car, as posted by a Twitter user who had posted a picture of their Electric Vehicle EV collection, which included the Ola Electric S 1 Scooter.
Aggarwal wrote that the next car replacement should be the Ola electric car.
Aggarwal's tweet suggests that the electric scooter will soon be joined by an electric car from Ola Electric. In August 2021, Agarwal had confirmed that in a fun-filled Twitter banter with one user that Ola was about to make inroads into the electric four-wheeler industry by the year 2023.
A user asked Agarwal if he owns petrol, diesel or electric car under his tweet on the launch of Ola Electric Scooter. Agarwal said that they had never owned a car until 2 months ago. In July 2021, Ola Electric had pre-launch bookings of its electric scooters for Rs 499. In just 24 hours, the firm had received 1 lakh orders.
The scooter comes in 10 colors with an in-house developed 8.5 KW motor and 3.97 kWh battery packs.
Ola electric scooters S 1 and S 1 Pro are priced at Rs 99,999 and Rs 1,29,999, respectively. Ex-showroom including FAME II subsidy and excluding state subsidies. Ola electric started deliveries on December 16, 2021, after being under pressured by customers for delay in delivery of e-scooters. The first 100 scooters were delivered to customers in Chennai and Bengaluru.
On January 21, Ola Electric had opened the final payment net window at 6: 00 pm on the Ola App for all customers who had completed the advance payment of Rs 20,000. Aggarwal said last week that Ola electric will send the S 1 Scooters across January and February.
Ola Electric S 1 Scooters are manufactured at Ola's 'Futurefactory'. The 500 acre plant is located in the Krishnagiri district of Tamil Nadu. The factory will have a capacity of 2 million e-scooters during its initial phase and up to 10 million units in the future.
Ola Electric raised $200 million from a pool of investors including Tekne Private Ventures, the Alpine Opportunity Fund, and Edelweiss on Monday. The new funding round values the company at $5 billion.