Ola Electric, the fastest growing EV company in India, has announced further plans to become a full-fledged electric vehicle manufacturer, stating that it will enter the e-motorcycle market by the end of 2023. What's more, the company also has plans to produce electric cars as early as December 2024. In recent news, Ola launched its mass-market scooter Ola S1 Air in October 2022 at an introductory price of Rs 79,999, or approximately $972 USD.
Bhavish Aggarwal, the company's founder and CEO, stated that Ola Electric will seek to establish a presence in all three market segments: mass, mid-segment, and premium superbikes. Aggarwal stated in an AutoCar India report that electric motorcycles do not need to be classified in the same way as gas-powered machines. “I have studied the Rs 80,000 to Rs 10 lakh motorcycle market and such hyper segmentation in EVs is not needed. In bikes, there is a lot more room for bringing a new sphere of technology and we will be announcing this by the end of next year,” he said.
