Ola Gears Up to Invest ₹2,000 Crore in Electric Vehicles and Battery Manufacturing
Ola Electric, one of the leading companies in the electric two-wheeler sector, has outlined plans to make a significant investment to expand its business operations. The company—which has previously held the top spot in the electric two-wheeler market—has announced an investment of ₹2,000 crore in the manufacturing of electric vehicles (EVs) and batteries.
According to a media report, this investment will be channeled through two of Ola Electric’s subsidiaries: Ola Cell Technologies and Ola Electric Technologies. The investment is slated to be completed within a period of one year. Ola Electric holds a 100 percent stake in both of these subsidiaries. The primary objective of this investment is to facilitate the business expansion of these subsidiaries.
Earlier this month, Ola Electric’s S1 X+ (5.2 kWh) electric scooter received a significant certification. This electric scooter has been granted approval by the International Centre for Automotive Technology (ICAT) under the Central Motor Vehicles Rules. The S1 X+ (5.2 kWh) features a 4680 Bharat Cell battery pack, which was developed in-house by the company. This model represents Ola Electric’s longest-range electric two-wheeler offering. The scooter is equipped with an 11 kW mid-drive motor integrated with a motor control unit. It also features ‘brake-by-wire’ technology and a front disc brake setup. The S1 X+ (5.2 kWh) boasts a top speed of approximately 125 kmph.
Ola Electric offers an extensive range of electric scooters. These include the S1 Pro+ (4 kWh and 5.2 kWh), S1 Pro (3 kWh and 4 kWh), and S1 X (2 kWh, 3 kWh, 4 kWh, and 5.2 kWh) models. The company’s product portfolio also includes the ‘Roadster’ electric motorcycle. Last month, Ola Electric announced a substantial price reduction for its Roadster X+ (9.1 kWh) electric motorcycle. This electric motorcycle is also equipped with a 4680 Bharat Cell battery pack. The price of this electric motorcycle has dropped from ₹1,89,999 to ₹1,29,999. The company witnessed an increase in sales during April. Having faced challenges over the past few months, the company sold 12,166 units of electric two-wheelers in April. Ola Electric reported that its electric motorcycles are receiving a positive response in major markets such as Uttar Pradesh and Madhya Pradesh.
