This Independence day Ola Electric will be introducing its 'Janta' electric scooter that will be priced between Rs 80,000 to Rs 90,000 to arrest its decline in the e2w space where it stands at the No4 slot.
Also and Ola's CEO & Founder Bhavish Aggarwal has already teased the arrival of its maiden sports luxury four-door coupe sedan that will have a skateboard architecture and is expected to be priced in the Rs 10 lakh range when introduced by 2024
A three-month dip in monthly numbers on the trot has pushed Ola to rejig its strategy and eye the mass market with its second offering. The Bengaluru-based EV maker plans to introduce this product on Independence day and is targeted "at the fast-growing Rs 80,000 to 95,000 price range", sources in the know told Autocar Professional.
The Softbank-funded EV maker had managed to rake in a record 1, 50,000 bookings for its Ola S1 Pro, its numbers for July were down to 3859 as compared to 5,874 two-wheelers in June. Ola Electric sold 9,258 electric scooters in May 2022 data from FADA ( Federation of Automobile Dealers Association) and the government’s Vahan portal shows.
Ola which had once market leadership has ceded the space to current market leader Hero Electric followed by Okinawa, and Greaves lead Ampere Motors
Softbank’s 2.93 trillion Japanese yen ($21.68 billion) loss for the June quarter has sounded alarm bells for a "freezing winter for funds" as unicorns are refusing to reduce their valuations. This also explains the real reason for the recent restructuring, cost-cutting measures including and employee layoffs at the Bengaluru-headquartered ride-hailing to electrical vehicle manufacturing firm.
The EV maker needs to urgently amp up its service delivery network and urgently add more products at the bottom of the pyramid as the mass market segment within Rs 65,000 to 90,000 is driving electric two-wheeler electric sales with the largest push coming from the rural areas
Ola which is one of the winners of the Centre’s Production Linked Incentive (PLI) scheme has set up a future factory to manufacture the world’s largest and most advanced cell research and development (R&D) facilities with more than 165 ‘unique and cutting-edge’ laboratory equipment to cover all aspects of cell-related R&D.
Ola's Chief Executive had earlier said that the core cell technology and battery innovation of India for the world will remain a core focus of its future business operations as "electric mobility is hugely R&D sensitive".
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