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Upcoming Ola Electric Scooter, raising competitive heat for incumbents

Ola Electric, the electric mobility arm of Ola Cabs, is all set to launch its first all-electric scooter in the coming weeks.

Ola Electric has commenced bookings for its e-scooter. Consumers can reserve an Ola Scooter for as low as ₹499, which is completely refundable. In short, the deal looks mouth-watering and it is likely to attract potential consumers, say analysts.

The Ola electric scooter will be manufactured at the company’s new plant in Tamil Nadu, which the company claims will be the largest electric two-wheeler plant in India. In fact, the plant will have an annual production capacity of 10 million electric scooters.

It will have 10 general assembly lines and will be able to roll out a scooter every two seconds, and 25,000 batteries per day. In Phase 1 however, Ola plans to make 2 million scooters per year.

“The state of Maharashtra has an early-bird incentive (valid till 31 December 2021) of Rs15000 and potential customers may want to get ahead in the queue by booking their Ola Electric to avail the extra incentive,” said analysts from Nomura Financial Advisory and Securities (India) Pvt. Ltd in a note on 15 July.

The made-in-India scooters will be exported to Europe, UK, Latin America, Asia Pacific, Australia, and New Zealand, apart from being sold in India. In India, it will compete with the likes of the Ather 450X, Bajaj Chetak, and the TVS iQube among others.

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