According to reports by Ola Electric, it is planning to set foot in the Commercial EV Vehicles space with three and four wheels by 2023. Ola will be all set then to compete with automotive giants like Mahindra & Mahindra, Tata Motors, etc. In the month of May, Tata Motors made an announcement of launching their electric Ace EV a four-wheeler eSCV and the deliveries will be expected to reach shortly.
Co-founder of Ola Bhavish Aggarwal said, “Motorbikes, scooters, and small light vehicles have all been interesting to us, and over in the next twelve months, you will be hearing more announcements about these vehicles.” Further adding that the products will be announced at a high frequency after Ola created its foundational technology.
During an interview, Bhavish Aggarwal told the media that “there are teams working on cars, two-wheelers. There are teams working on commercial vehicles, same software, same cells, electronics are used across products. We have a clear vision from Day one that we use our technology as our platform and in the next few months you will appreciate the power of the technology platform as products get announced in quick succession.” The company is set to increase revenue once its 2-wheeler operations have been stabilized. Ola will further invest its profits and earnings toward more advanced products.
Ola’s future plan is to look into manufacturing its own battery cells and look ready to achieve its target of starting the production by end of 2023. According to the company, it is now the largest consumer of lithium-ion battery cells in India. Bhavish Aggarwal spoke about broadening the business to other countries such as Europe and Latin America soon.
