Ola Electric announced on Thursday that it will launch its electric scooter on the Indian market in July this year and is working to set up a “Hypercharger Network” that will include a lakh charging station in 400 cities.
Last year Ola announced one £Investment of 2,400 crore to build the first electric scooter factory in Tamil Nadu. When completed, the plant will create nearly 10,000 jobs and will be the world’s largest production facility for scooters, initially with an annual capacity of 2 million units.
“We will ship the factory by June, which will have a capacity of 2 million units, and then – over the next 12 months – we will be ramping up after the factory is set up … sales will also start at the same time, with that the factory will be completed in June, sales will begin in July, “said Bhavish Aggarwal, Chairman and Group CEO of Ola.
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The introduction of the electric scooter is in line with Ola’s global vision to lead mobility into a more sustainable, accessible and connected future.
The company has yet to announce details such as the pricing of the e-scooter.
“To introduce electric vehicles, a strong charging system is required. Today one of the most important infrastructure gaps in our country is the charging system … (Our) Hypercharger Network will be the largest fast charging system for two-wheelers. (Over) 400 cities and towns and we will be more than Build 1,00,000 charging stations as part of this network, “he said.
In the first year, Ola will set up over 5,000 charging stations in 100 cities in India.
The network charges 50 percent of the Ola scooter’s battery in 18 minutes for a range of 75 km.
These charging stations are used as stand-alone towers as well as in popular locations such as shopping malls, IT parks, office complexes and cafes to ensure that Ola Electric customers always have a charging station nearby.
The Ola Hypercharger network is set up by Ola together with partners. Customers can monitor the charging process in real time via the Ola Electric app and pay for the charging process seamlessly via the app.
The Ola Scooter will include a charger that does not require installation and allows customers to charge their vehicle at home by plugging it into a standard wall socket to charge.
When asked about the impact of the COVID pandemic, Aggarwal said there had been no major disruptions to date.
“Things could change in the next few weeks, but we’re not seeing any major disruptions to the charging system or factory roll-out right now,” he said, adding that the company has been able to handle supply bottlenecks better as it has some Build components yourself.
While Aggarwal did not comment on the investments made to build the charging infrastructure, he said they will be investing “a significant amount themselves and with our partners.”
“Collectively, the ecosystem will invest approximately $ 2 billion over five years over that five-year period,” he added.
In the area of cab aggregation, Aggarwal said the mobility business had recovered well.
“… Obviously the second wave has come and we can do it. But our international business in the Commonwealth countries is doing well, those countries have recovered well. Other companies that provide financial services are also growing very well.
“We’re one of the leading providers of microinsurance, microcredit, etc., and it’s growing well. So we are also very excited about our consumer internet businesses, “he added.
This story was published by a wire agency feed with no changes to the text.