COMPANIES IN NEWSPOWER

Ola to launch e-scooter in July, to set up 1 lakh charging points in 400 cities

Ola Electric on Thursday said it will bring its electric scooter to the Indian market in July this year, and is working on setting up a ‘Hypercharger Network’ to include one lakh charging points across 400 cities.

Last year, Ola had announced a Rs 2,400 crore investment for setting up its first electric scooter factory in Tamil Nadu. Upon completion, the factory will create nearly 10,000 jobs and will be the world’s largest scooter manufacturing facility that will initially have an annual capacity of 2 million units.

“We will put out the factory by June, which will have the capacity to manufacture 2 million units and then we’ll ramp up – over the next 12 months – after the factory is set up…the sale will also start at the same time, so factory gets completed in June, sale starts in July,” Ola Chairman and Group CEO Bhavish Aggarwal said.

The launch of the electric scooter is in line with Ola’s global vision of moving mobility into a more sustainable, accessible and connected future.

The company is yet to disclose details like pricing of the e-scooter.

“To get adoption of electric vehicles, a strong charging network is required. Today, one of the key infrastructure gaps in our country is charging network…(Our) Hypercharger Network will be the largest fast charging network for two-wheelers…(across) 400 cities and towns and we will be building more than 1,00,000 charging points as part of this network,” he said.

In the first year, Ola is setting up over 5,000 charging points across 100 cities in India.

Source
ET Energy World
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