Ola Electric Scooter To Be Launched On August 15, Says CEO Bhavish Aggarwal

Ola Electric Scooter To Be Launched On August 15, Says CEO Bhavish Aggarwal

Highlights:

  • Bhavish Aggarwal, CEO of Ola Electric, revealed the scooter’s launch date will be August 15.
  • Bookings for the Ola Scooter began in mid-July, and within 24 hours, the electric scooter had over a lakh reservation.
  • The Ola Scooter will be keyless and offer ‘segment-leading’ boot space, among other features, according to the company.

Ola Electric’s much-anticipated electric scooter will be unveiled on August 15, coinciding with India’s Independence Day, emphasizing the larger point that company founder Bhavish Aggarwal wants to drive home about making in India and Atmanirbhar Bharat.

Aggarwal also stated that the firm would release the electric scooter’s entire specifications and details, as well as its availability dates.

On August 3, Aggarwal wrote in a tweet, “Thanks to all who have reserved our scooter! Planning a launch event for the Ola Scooter on 15th August. Will share full specs and details on product and availability dates. Looking forward to it!”

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Blue, black, white, grey, and shades of red and yellow will be among the ten colour options for the scooter.

On July 15, Ola Electric began accepting bookings for its electric scooter for a refundable deposit of Rs 499. It stated a few days later that it had received over 1 lakh bookings in the first 24 hours.

Aggarwal previously stated that the record-breaking bookings were a significant step forward in the shift to electric mobility and that it was merely the beginning.

The Aggarwal-led company is building a 500-acre facility in Krishnagiri, Tamil Nadu, with the goal of manufacturing 1 crore vehicles per year at full capacity, making it the world’s largest two-wheeler factory.

It recently secured a $100 million long-term loan from Bank of Baroda to complete the first phase of development of its factory, which will manufacture electric two-wheelers.

According to sources, Ola Electric wants to invest $2 billion with its partners over the next five years to build over 1 lakh charging stations in 400 cities. One of the biggest obstacles to mainstream EV usage is a lack of charging stations.

Aggarwal recently asked Tesla CEO Elon Musk to build in India instead of only importing in India, tweeting that he strongly disagreed with Hyundai and Tesla’s demand for lower import tariffs on electric vehicles.

Investors like as Matrix Partners, Tiger Global Management, and SoftBank have helped Ola Electric reach a market capitalization of over a billion dollars. Ola’s primary ride-hailing unit is also expected to float on stock exchanges soon, having secured $500 million from Warburg Pincus and Temasek for the purpose, allowing early investors Tiger and Matrix to sell a portion of their investment in the company.

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Swastika Dubey

Swastika Dubey is a content writer who has a keen interest in politics, fashion, and lifestyle. She is a post-graduate in Economics and loves to listen to classic old Hindi songs and travel to new places in her leisure time. Her writing is well researched, covering important aspects and core of the topic covering crucial points.

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