Ola is a Bengaluru-based ride-sharing company that only a few people are ignorant of. Ever since Ola became operational in all the major cities throughout India, it has become our go-to option. Along with the US-based Uber, Ola is one of the most dominating ride-sharing companies that offers the users a wide range of vehicles and renting options to choose from!
India’s leading mobility platform, Ola has been operating since 2010, when it was founded and has already streamlined its ride-booking and car renting service and its different modes throughout these years with a focus on its users to add to its growth.
Now, Ola has also chosen to empower sustainable development and therefore, came up with its unique concept of “e-scooters” or what we term as “electric scooters”.
OLA Electric is planning to launch its Electric scooters on August 15, 2021, Ola chief, Bhavish Aggarwal disclosed it via his Twitter handle.
Thanks to all who have reserved our scooter!
— Bhavish Aggarwal (@bhash) August 3, 2021
Planning a launch event for the Ola Scooter on 15th August. Will share full specs and details on product and availability dates. Looking forward to it! 😀
If you have already heard about them and are curious to learn everything about electric scooters, then you can keep this article handy because here we bring you all that you would like to know about these vehicles!
Latest News
January 17, 2022 - Ola Electric hits another roadblock, the S1 scooter deliveries are delayed. However, the customers who are interested to upgrade to S1 Pro can do it easily now as the EV manufacturers will be prioritizing the production of the S1 Pro scooters, which is the choice of the majority, against a performance upgrade fee. The S1 Pro orders will start dispatching through January and February and might take up to 20 days to reach the customers' place.
December 27, 2021 - Ola Electric has expanded its authorized capital by 17,121%, increasing its capital amount from INR 22.2 Cr to INR 3,825 Cr. An IPO might follow because raising authorized capital is one of the primary steps leading a company to its conversion into a public entity.
December 24, 2021 - Ola Electric is expected to delay its production of escooters further. Though the Indian EV manufacturers have delivered nearly 100 scooters to the customers during an event earlier this month, Ola's superfactory has been operating much below its capacity, according to the sources close to the matter.
December 7, 2021 - Ola Electric raises funds from Vijay Shekhar Sharma of Paytm feat and Bollywood brother-sister duo - Farhan Akhtar and Zoya Akhtar. The subsidiary of OLA Cabs has already raised Rs 398 crore and is further looking to raise around $53 mn by allotting 371 Series C compulsory convertible preference shares (CCPS) to Temasek, IIFL, Edelweiss, Rahul Ravindra Raj Mehta, and others.
November 22, 2021 - Ola again has to postpone the delivery of the electric scooters to mid-late December 2021. The scooters that were to be delivered from October 2021 onwards had already been postponed earlier due to a global shortage of semiconductors.
November 20, 2021 - Ola founder Bhavish Aggarwal rejoiced at the amazing responses of the S1 test rides and further plans to expand the test rides to 1000+ cities across India by December 15, 2021.
October 25, 2021 - Ola launches its first Hypercharger to charge the S1 model of Electric scooters. The company is planning to start the test drive of its electric vehicles from November 10, 2021.
September 17, 2021 - Ola Electric scooters are being sold at a rate of 4 scooters each second. At the end of Day 2 of the sale, Ola has already sold Rs 1100 crores worth of scooters.
September 8, 2021 - Ola CEO and Co-founder, Bhavish Aggarwal tweets an apology for being unable to make the Ola website live for the audience to begin the purchases of Ola S1 scooters. Bhavish postpones the purchase date and time to September 15, 8 am.
September 4, 2021 - Ola Electric scooters are expected to be shipped to the US by early 2022, as mentioned by the OLA CEO, Bhavish Aggarwal.
September 4, 2021 - Ola has planned to come out with 2 products to be launched in the Indian markets: Ola S1 and S1 Pro, priced at Rs 99,999 and Rs 1,29,999 respectively.
Why Ola Electric Scooter is much like a “Revolution on two wheels”?
Ola Electric - Birth of the Entity
Ola Electric Scooters - Built, Colour Variants, Specifications, and Charging
How can you charge Ola Electric Scooters?
Where are the Ola Electric Vehicles manufactured?
What will be the price of Ola Electric Scooters?
How to Book Ola Electric Scooter?
Funding received by Ola Electric Mobility
Pre-Sale Bookings and Sales Records for the Ola Electric Scooters
Ola Electric - Brand Ambassadors
FAQ
Why Ola Electric Scooter is much like a “Revolution on two wheels”?
Yes, coming up with Ola electric scooters will certainly help people lose track of the rising costs of fossil fuels and all the morbid thoughts about the exhaustion of our fossil fuel reserves and their likes.
Ola electric is certainly a revolutionary idea and even its tagline says so “Ready or not, a revolution is coming” along with a motivating hashtag #JoinTheRevolution.
Here are the 3 key features that the Ola Electric scooter boasts of:
- Big on Acceleration - The Ola electric scooters would be furnished with acceleration to envy and will allow the users to stay ahead on the road.
- High on handling - Along with providing a remarkable acceleration, these bikes are also slick and promise exceptional handling on any surface.
- Larger boot space - Ola Electric vehicles also come with a large boot space that is capable of storing two helmets and more important things you would need along the ride.
Ola Electric - Birth of the Entity
Ola has announced that its electricity-powered scooter manufacturing company would be different from its ride-sharing wing. They are two different lines of businesses under ANI Technologies where the former will continue to be a ride-hailing business whereas the latter would be associated with the manufacturing and selling of the electric scooters.
Ola Electric Scooters - Built, Colour Variants, Specifications, and Charging
Ola has disclosed that their electric scooters will be made available in 2 versions – the Ola Series S - Ola S1, and the top-of-the-line Ola S1 Pro. The company has already launched S1 and S1 Pro scooters with prices starting from Rs 99,999 and Rs 1,29,999, respectively.
Ola electric has acquired Etergo BV back in 2020 and announced that the Ola electric scooter is based on the Etergo Appscooter. The company has already adopted the platform of Etergo to be used in India in order to deliver better performance.
The Ola electric scooters will pace on 12-inch black alloy wheels. Talking about the design of the vehicles, they are clean and sleek in appearance and devoid of any other redundancies. As per the reports, the Ola e-scooters will feature a twin-pod LED headlamp that will have an LED strip running around it.
Furthermore, these will have single-sided telescopic front suspensions and their rear shock absorbers will be mounted horizontally, with the disc brakes slotted front and in the rear. The pillion footpegs of the scooter fold flush into the bodywork of the vehicles and at the back there are chunky pillion grab handles, ending in clear-lens tail-lights.
These scooters are also claimed to be launched with the largest boot space ever, which will be capable of accommodating two half-face helmets and will have space for packing in more.
As per the batteries, Ola hasn’t released any formal statements concerning the battery system of the vehicles but its batteries will not be of a swappable type according to most. It will rather run on a standard charging system.
Ola electric scooter’s riding range for the S1 model is 121 km and for its S1 Pro model, it is around 181 km per charge. The latter also includes the Hyper Mode, which is not present in the former model.
Ola's electric scooters are reported to be equipped with a 7.0-inch TFT color display that will feature in-built navigation, onboard diagnostics, and other infotainment functions, and will be powered by an Android operating system.
Ola has already roped in Wayne Burgess, a Jaguar design veteran who also served as the Design Director of Jaguar Production and SVO Vehicles, and plans to make their vehicles big on design, bringing in the global appeal to the vehicles.
Besides, Ola is also planning to launch an indigenously built car in order to foray into the electric four-wheeler industry, which will also get a major boost in its design with Burgess leading their team as the VP of Design.
Matte black, matte pink, matte sky blue were some of the color options that were disclosed by Ola initially. However, currently the S1 Pro model comes in 10 different colours, which are:
- Midnight Blue
- Matt Black
- Millenial Pink
- Liquid Silver
- Anthracite Grey
- Porcelain White
- Neo Mint
- Marshmellow
- Jet Black
- Coral Glam,
wheras, the S1 model of Ola Electric scooters comes in 5 colours - Porcelain White, Midnight Blue, Coral Glam, Jet Black, Marshmellow.
Rishabh Rathi
How can you charge Ola Electric Scooters?
The owners of Ola Electric vehicles will be able to charge their scooters using a standard 5A socket or at one of its ‘Hypercharger’ charging stations. The company has already announced that it will make the stations live for charging scooters in over 100 cities initially, which will eventually cover over 400 cities.
The first Ola Electric Hypercharger was launched on October 25, 2021, ahead of the planned test drives of the Ola electric vehicles scheduled for November 10, 2021. The S1 test rides of the vehicles have already started, and have received an encouraging response from all across the country, as per the reports of November 20, 2021. Furthermore, witnessing the overwhelming response that Ola S1 scooters have received, Bhavish Aggarwal, Co-founder and CEO of Ola, has decided to extend the test rides to over 1000 cities by December 15, 2021.
Amazed and proud to see the strong response to our S1 test rides! Thousands of you have tried & loved it! We’re now expanding test rides to 1000+ cities across India by Dec 15. This is the largest direct to consumer outreach in Indian automotive history! #JoinTheRevolution pic.twitter.com/ErxXkflQzO
— Bhavish Aggarwal (@bhash) November 20, 2021
Where are the Ola Electric Vehicles manufactured?
The electric vehicles of Ola are currently manufactured in its electric scooter factory in Tamil Nadu, which has a capacity of producing 2 million vehicles annually and the numbers will rise to 10 million by the end of 2022.
Yes, Ola Electric is in process of building its factory, OLA FutureFactory in Tamil Nadu, which will cover an area of more than 100 acres, boast a production capacity of 10 million units per year, and will operate with the help of over 3000 AI-powered robots.
It is believed to be the world’s largest 2 wheeler factory that is planned with the facilities to roll out 1 vehicle every 2 seconds. Phase 1 of the plant is nearly complete.
What will be the price of Ola Electric Scooters?
The website of the Indian multinational ride-sharing company initially declared that the Ola e-scooters would be competitively priced. According to sources close to Ola, these scooters were expected to be priced around Rs 1 lakh mark.
The prices, as unveiled, are tagged at Rs 99,999 and 1,29,999 for S1 and S1 Pro models respectively. At this price segment, these vehicles will compete with the likes of the Bajaj e-Chetak, Ather 450X, and TVS iQube.
Alan Joseph
How to Book Ola Electric Scooter?
If you are eager to purchase one of such vehicles, then you don’t have to worry anymore because here are some easy steps that will help you book your vehicle:
- First, you need to visit the official website of Ola electric: www.olaelectric.com and then click/tap on the ‘Reserve for Rs 499’ button, which appears at the top-right corner of your screen.
- Now, you need to enter your mobile number, click on the captcha verification box to verify the same, and then click/tap on the Next option.
- You will then receive an OTP on your mobile number, which you will need to type in and then click/tap on the Next option.
- Then you will get a dialog box that says ‘Total Payable – Rs 499’ and will offer 3 payment options – Debit/Credit card, UPI, and Netbanking.
- After that, you need to choose your preferred payment option, after which you will be redirected to the payment gateway.
- After making the payment you will see the final screen, which will confirm your Ola booking by saying “Congrats, you are now part of the revolution."
- As soon as you have completed making the payment, you will receive the order ID and other details via SMS or email to the mobile number and the email address provided.
Funding received by Ola Electric Mobility
Ola Electric Mobility, the subsidiary of Ola responsible for manufacturing Ola Electric scooters has raised a total funding of $607.2 million to date over 7 funding rounds and is powered by 8 investors in total.
The lead investors of Ola Electric Mobility include big names like Softbank, Tata Sons Private Limited, Matrix Partners India, Tiger Global Management, Hyundai Motor Company, Kia Motors, and more.
Ola Electric is now looking to raise around $1 billion in the upcoming months. To funnel in the money from the equity firms and international investors, the company has already started its collaboration with JP Morgan, which has a network of equity firms, financial investors, strategic traders, and other large-scale investors. The company had already raised $100 million from the Bank of Baroda in July 2021 in order to kickstart the first phase of the construction of the largest two-wheeler factory.
Ola Electric raises funds close to $200 million on October 1, 2021, from Falcon Edge, Softbank, and others to elevate its valuation to $3 billion. The recent funds would be used to boost the development of its other vehicle platforms, including electric motorbikes, mass-market scooters, and electric cars.
The company is further looking for its upcoming funding round worth $200 mn, which would be led by a couple of US-based bluechip tech funds along with its existing investors. This will reportedly boost the valuation of the four-year-old startup, Ola Electric, by over 60% to $5 bn. The company has finally succeeded in raising the fund it was looking for. Ola Electric raised over $200 million from a clutch of investors including Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss, and others, to elevate its valuation to $5 bn, as per the reports dated January 24, 2022.
Ola Electric has raised funds equal to Rs 398 crore, as per the reports dated December 8, 2021, from a bunch of investors including Vijay Shekhar Sharma, who has poured in Rs 75 crore via VSS Investco; Farhan and Zoya Akhtar, who have invested around Rs 21 crore and Rs 10.7 crore, and from Ritesh Sidhwani, who has pumped in Rs 21.4 crore along with other investors Edelweiss, IIFL and others. This investment might also increase in the upcoming months. The EV manufacturing arm of OLA is also looking to raise around $53 Mn by allotting 371 Series C compulsory convertible preference shares (CCPS) to Temasek, angel investor Rahul Ravindra Raj Mehta, IIFL, Edelweiss, and a clutch of other investors. Ola Electric, after these recent rounds of funding, is valued at over $5 bn, as of December 7, 2021.
OLA Electric has raised $860.2+ mn via over 9 funding rounds that the company has seen. The last Ola Electric funding round was raised on January 24, 2021, where the company raised over $200 mn.
Here's a glimpse into all the prominent funding rounds that OLA Electric has seen so far:
| Date | Stage | Amount | Investors |
|---|---|---|---|
| January 24, 2022 | - | $200+ mn | Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss, and others |
| December 8, 2021 | Series C | $53 mn | Temasek Holdings |
| September 30, 2021 | Series C | $200 mn | Alpha Wave Global, Softbank |
| July 12, 2021 | Debt Financing | $100 mn | Bank of Baroda |
| March 12, 2020 | Series B | $1 mn | Pawan Munjal Family Trust |
| September 16, 2019 | Corporate Round | - | Kia Motors, Hyundai Motor Company |
| July 2, 2019 | Series B | $250 mn | Softbank |
| May 6, 2019 | Series A | - | Tata Sons |
| March 1, 2019 | Series A | $53.58 mn | Marix Partners India, Tiger Global Management |
Pre-Sale Bookings and Sales Records for the Ola Electric Scooters
Ola opened the option for pre-booking their customers on July 15, 2021. Therefore, everyone who was eager to buy the much-awaited e-scooters, and wanted to stay ahead of their peers could pay a refundable deposit amount of Rs 499.
Ola electric vehicles have witnessed pre-bookings of more than 1 lakh vehicles, as reported on July 17, 2021, the numbers of which increased each second.
The purchases for Ola Electric scooters were geared to start from September 8, 2021, and the brand was set to kickstart the delivery of the products from October 2021, as of the website status on August 2021. The brand also mentioned then that the purchase of the S1 Pro vehicles will be starting from September 8, 2021, and the Ola scooter delivery will tentatively begin from October 2021 onwards. The booking for Ola S1 and S1 Pro had already started back then and you can also find it live on their website as well as the Ola app even today.
However, Ola S1 scooters couldn't be bought on the mentioned date due to technical glitches in the developer's end of the website that failed to make it up and running. The website that would be a one-stop solution for digital purchases, which would also guide the customers with a fully digital loan process without any paperwork, wasn't live on September 8, 2021. Ola co-founder and CEO Bhavish Aggarwal apologized on Twitter for the frustrating experience the customers had to go through and postponed the purchase date to September 15, 8 am. He further reassured that the reservation of the customers in the purchase queue will remain unchanged.
My message on the @OlaElectric purchase issues today. pic.twitter.com/vDVfwLqC7U
— Bhavish Aggarwal (@bhash) September 8, 2021
The purchase of the Ola e-scooters went live on the mentioned date, September 15, 2021, at the end of which it was declared by Bhavish Aggarwal that Ola Electric sold 4 scooters/second, which resulted in the sale of scooters worth Rs 600 crores+ in a single day. The total sale of Day 2 was even better as goes the Twitter post of the Co-founder of Ola Cabs, Bhavish Aggarwal:
Day 2 of EV era was even better than Day 1! Crossed ₹1100Cr in sales in 2 days! Purchase window will reopen on Nov 1 so reserve now if you haven't already.
— Bhavish Aggarwal (@bhash) September 17, 2021
Thank you India for the love & trust. You are the revolution! https://t.co/oeYPc4fv4M pic.twitter.com/fTTmcFgKfR
Ola is also looking to transport their electric scooters to the US by early 2022 as part of its international trade. The CEO of the company, Bhavish Aggarwal has mentioned,
"Yes soon! We will be shipping to the US by early next year,"
in a reply to Vivek Wadhwa, a US-based entrepreneur on Twitter, who earlier referred to the Ola Electric scooters as "the Tesla of Scooters," further adding, "would love to get one here in Silicon Valley."
Ola, however, had to postpone the deliveries of the e-vehicles from the month of October to November 2021 due to a global semiconductor shortage. However, the delay has further extended, as per the reports dated November 22, 2021, where the company has decided to defer the first batch of deliveries of its e-scooters to December 15 - 30, 2021, which was earlier expected to happen between October 25 - November 25, 2021.
Ola Electric - Brand Ambassadors
Ola Electric has already been a grand pre-booking success and is innovating its marketing strategies to attract the present generation of customers. The company has already roped in Bhuvan Bam, singer, songwriter, actor, and one of the most popular YouTubers of India, famous for his Youtube "BB ki Vines," as its brand ambassador to hook in the young generation of buyers.
Bhuvan Bam was hired on August 27, 2021, on a contractual basis, the agreement of which declares that the popular Youtube personality would collaborate with the electric scooter manufacturers to create entertaining and eccentric content revolving around the new-age Ola Electric scooters.
Bhuvan Bam seemed thrilled to be an Ola Electric brand ambassador and said,
“I am really happy that Ola Electric considered me as one of their ambassadors. It’s truly exciting to be a part of this green revolution, something I’ve always wished for. The scooters are sleek, attractive, and are designed as per the Indian electric vehicle market. I have joined the green revolution already and I can’t wait for everyone to get their hands on it.”
FAQ
How much does Ola electric scooter cost?
The Ola electric scooter has 2 models -
- Ola S1 is priced at Rs 99,999.
- Ola S1 Pro is priced at Rs 1,29,999.
What is the range of Ola electric scooter?
The range of Ola Electric scooter on a single charge are -
- Ola S1 - 121 kms
- Ola S1 Pro - 181 kms.
What is the top speed of Ola Electric scooter?
The top speed of Ola Electric S1 is 90km/hr whereas for the S1 Pro model the top speed is 115km/hr.
Author :- Anik Banerjee Source :- https://startuptalky.com/ola-launch-electric-scooter/ Date :-January 24, 2022 at 11:45AM
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