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Ola Focusing On A Global Electric Two-Wheeler Business, Says CEO

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Ola is planning to foray into electric scooter manufacturing and plans to hit the market with its first vehicle in January next year.

The firm had confirmed that it is working on building an electric vehicle ecosystem expand View Photos
The firm had confirmed that it is working on building an electric vehicle ecosystem

Highlights

  • Ridesharing platform is working on a global electric two-wheeler business
  • The company is expected to launch its first electric scooter in 2021
  • Ola Electric had acquired an Amsterdam-based Etergo BV company

It was earlier this year in May when Ola officially announced its foray into the local and global electric two-wheeler markets. The firm is expected to launch its first electric scooter in 2021. Now, the company is aggressively building a global electric two-wheeler business. This was confirmed by CEO Bhavish Aggarwal while addressing the CII event. It was at the event when the co-founder pointed out that two-wheelers create more pollution on a cumulative basis compared to four-wheelers in some geographies.

Also Read: Ola Electric To Launch An Electric Two-Wheeler In 2021; Acquires Amsterdam-Based Etergo

Thus, the company is very much focused on building an electric two-wheeler business. This new global business will also play across different vehicle segments over the next few years. Ola chief believes that India with its unique skill sets and manpower can be a bridge for developing paradigms and technologies for not only developed but also developing countries.

He classified four broad segments of vehicles, including two and three-wheelers, Asian-European styled four-wheelers (small city cars), western-styled four-wheelers and large commercial vehicles (buses and trucks).

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Ola plans to hit the market with its first vehicle in January next year

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He said, "Our ambition is to be the leader in electric mobility for the small vehicles and small city four-wheelers. And unlike Tesla or many of the American companies, which are building for their own audiences, we have to build for our audiences. India is the world's largest two-wheeler market. Asia is 80-90 per cent of the global two-wheeler market."

According to PTI, Ola is planning to foray into electric scooter manufacturing and plans to hit the market with its first vehicle in January next year. The electric scooter will be initially manufactured at a facility in the Netherlands and will be retailed in Indian and European markets. However, the company hasn't specified any exact timeline for the launch of e-scooter. 

Also Read: Ola To Set-up New Tech Centre In Pune, Will Hire 1,000 Engineers: Report​

In May 2020, Ola Electric had acquired an Amsterdam-based Etergo BV company. And, the firm had confirmed that it is working on building an electric vehicle ecosystem which includes extensive charging and swapping networks across the country. He also mentioned that Ola will have an important role in the smaller four-wheeler segment. However, he didn't provide specific details.

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In May 2020, Ola Electric had acquired an Amsterdam-based Etergo BV company.

He added, "As and when we have more to say, we will share, but we are looking at the whole spectrum of electric mobility from a global perspective. And over the next few years, we will build across different vehicle segments."

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"I believe we have the unique skill sets and unique talents and the India advantage to do that, because a lot of these paradigms for tomorrow if they have to be globally relevant, they have to be built in India because India is kind of a bridge between the developed world and the developing world," he added.

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