The Bhavish Aggarwal-led startup launched their newest providing – Ola S1X EV scooter – on Independence Day amid different new merchandise at their “End Ice Age, Part 1” occasion.

“After this, we believe there will be no need for anybody to buy internal combustion engine scooters in the country,” Aggarwal mentioned. “Our goal is that we have to make EVs cost the same as internal combustion engines. We have made a big stride toward that.”

The new e-scooter fashions, S1X and S1X+, will probably be priced at Rs 99,999 and Rs 1,09,999, respectively, with the most cost effective variant of S1X about 36% decrease than Bangalore-based Ola’s costliest e-scooter, the S1 Pro, which sells for Rs 1,40,000.
The least costly petrol scooter in India prices about Rs 64,000.The group additionally launched new bikes, the “Cruiser,” “Adventure” and “Roadster.” The SoftBank Group-backed firm additionally plans to launch 4 e-motorcycles by end-2024.Ola additionally showcased its first EV cell on the occasion. The cell manufacturing unit will start operations by subsequent 12 months and have an preliminary output of 5 gigawatt hours. Ola’s electrical two-wheeler manufacturing unit has an annual manufacturing capability of 1 million items, which is able to ramp as much as 10 million items over the following 5 years, stories Bloomberg.The firm, which first started promoting electrical scooters in 2021 and competes with start-ups like Ather Energy, leads the e-scooter market with a 32% share. Valued at $5 billion final 12 months, Ola offered round 95,000 e-scooters from April-August 2023, trade knowledge confirmed.

While the brand new fashions will enhance Ola’s market share, Aggarwal mentioned his focus is to extend EV penetration in India and desires electrical fashions to comprise nearly all of scooter gross sales by subsequent 12 months.

“Our goal is eventually to bring the upfront price of an EV equal to internal combustion engine models … without any government incentives.”

The IPO-bound firm additionally plans to increase its plant’s annual manufacturing capability to 2 million items from 500,000 at the moment, and double the variety of expertise shops to 2,000.

With inputs from Reuters and Bloomberg