Electric vehicles were a revolution in the automobile industry, with the first zero polluting electric car, REVA being commercialized in June 2001. The age of electric cars is not far from becoming a reality with major automobile companies entering the EV market. Tata Nexon EV currently aces the list of electric cars in the Indian market. Ola Electric, specialized for its electric two-wheelers, has recently announced the launch of its first Ola electric car in 2023. Bhavish Aggarwal, CEO of Ola Electric said, “Next car replacement should be the Ola Electric car.”
The teaser image of this Ola EV hatchback shared on Twitter created excitement among people for being a look-alike of a pod used in sci-fi movies, having no door handles and a classy outer covering of glass. The extended windshield, rear haunches, large wheels, light strip, and the Ola logo in the front, created a futuristic image for the automobile industry.
Ola holds a majority share in India’s ride-hailing market and seems to be at a growing end in several global markets like Britain and Australia. While in an interview, Bhavish said, “Our ambitions in electrification are to make India the global electric vehicle hub.” The company raised funding of $200 million from Japan’s Softbank, Tekne Private Ventures, Edelweiss, Alpine Opportunity Fund, and others to reach a valuation of $5 billion.
The funding will help Ola accelerate its other EV platforms like electric motorbikes, electric cars, and mass-market scooters and further build its ‘Mission Electric’ that ensures no petrol two-wheelers be sold in India after 2025.
After its successful launch of S1 and S1 Pro Electric Scooters, Ola is ready to set up a new Future Factory for electric four-wheelers. Wayne Burgess, an international automotive design experience holder will be leading the team of engineers for vehicle designing.
As per the reports, there is just 2 percent of people in India own a four-wheeler and only 12 percent own a two-wheeler, which means that more than a billion people have been shut out of mobility by this system. Bhavish envisioned new mobility for the future with products ranging from electric scooters, electric cars to flying cars and drones.