The commencement of the pre-booking for the much anticipated all new Ola electric has begun and it has created a disruption among Indians as it crosses 1L pre bookings in just 24hrs as claimed by the company. The pre booking was priced at Rs.499 which was refundable. The company has not yet mentioned when the deliveries would roll out for the scooter. Last May, Ola had acquired Amsterdam-based electric scooter maker with plans to launch its own EV version in 2021. It is anticipated that the OLA electric scooter will likely be put under the name tag of S Series. As per the official government trademark registry, OLA electric has trademarked three names – S1, S1 pro and the S series.
The key highlights you need to know about the company :
Milestone – In the first year, OLA is setting up over 5000 chagrin points across 100 cities in India. The hypercharge network will charge 50% of the OLA scooter battery within 18 mins for 75km of power and durability.
Hypercharge – the ola hypercharge network is being built with OLA along with partners Customers will be able to monitor the chagrin progress in real time on the OLA electric app and seamlessly pay for the chagrin itself.
Standard Operating Procedure – The ola scooter will include home chargers that will require no installation and will allow consumers to charge their vehicle at home by plugging into a regular wall socket for charging.
Method of Operation – the charging stations will be deployed as stand-alone chargers in popular locations such as malls, IT parks, office complexes and cafes to ensure that Ola Electric customers always have a charging point nearby.
Ola has raised $100M from Bank of Baroda to partially finance the first phase of construction of what India’s largest ride-hailing platform claims to be the world’s largest electric two-wheeler factory. The money raised will be used as a long-term loan by Ola Electric Mobility Pvt. Ltd. The plant is being built in Krishnagiri district, Tamil Nadu. The factory will have an initial capacity of approximately 2 million electric vehicles a year.
OLA announced that it raised $500M for its core ride-hailing business ,following the fund-raising from Bank of Baroda, led by private equity firm Temasek Holdings Ltd and Plum wood Investment Ltd., and allies of Warburg Pincus LLC, ahead of its planned Initial public offering(IPO). With all of these fund combines it can be easily concluded that OLA is aggressively expanding its network of businesses and is very adamant to cross milestones after milestones. According to experts assumptions, the OLA electric scooter will be entering the luxury category of two-wheelers pricing its scooter at 1,00,000 rupees approximately.