Ola CEO confirms entry into electric car segment, could launch four-wheeler EV by THIS year

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New Delhi: After the successful launch of the Ola Electric scooters, the Bengaluru-headquartered company is now gearing up to manufacture electric cars in the near future, aiming to disrupt the EV sector with Ola branded offerings. 

Ola’s co-founder and CEO Bhavish Agarwal said that the company could foray into the electric vehicle project in two years, i.e. by 2023. However, the co-founder didn’t share more information about the company’s plans on how it plans to take the electric four-wheeler industry by storm. 

At present, while Ola Electric doesn’t sell electric cars, its sister firm, Ola Cabs does run a fleet of electric four-wheelers as cabs across many cities in India. The company also operates hubs that are used for the charging of such electric cars.

Agarwal revealed that Ola Electric is currently working to develop the Krishnagiri plant which is based in Tamil Nadu. The company will use the manufacturing hub for its future electric vehicles as well, he said in an interview with TOI. 

The company is also planning to build an ancillary or supplier park near that centre. The purpose of the park will be to create an ecosystem where they can sell to other buyers directly. 

Agarwal also urged the automobile industry to make investments in the electric vehicle segment in India to turn the country into an ‘Electric Vehicle hub’ in the future. 

The news of the possibility of an Ola Electric car launch comes after the Bhavish Aggarwal-led firm had debuted the S1 and S1 Pro electric scooters in the electric vehicle market on August 15. Also Read: Zee Exclusive: 5 tips on how to maintain a healthy credit score

The electric bikes have been launched at a price point of Rs 99,999. Ola Electric is expected to start the deliveries of the electric two-wheelers starting from October 2021. Also Read: Meet the latest Indian billionaire to enter the list of world's top 100 richest people