Ola Electric opens reservations for e-scooter: All details

Ola Electric recently raised $100 million long-term debt from Bank of Baroda towards the funding and financial closure of phase 1 of the factory.

By:July 16, 2021 8:11 AM
Ola Electric scooter riding shot

 

Ola Electric on Thursday opened reservations for its electric scooter, which it will launch soon. Customers can reserve the Ola Scooter by paying a refundable deposit of ₹499 and get priority delivery, Ola Electric said in a statement. The company said it will reveal the features and price in coming days.

Bhavish Aggarwal, chairman and group CEO, Ola, said; “India’s EV revolution begins today as we open reservations for our electric scooter, the first in our range of upcoming EVs. With its incredible performance, technology and design along with aggressive pricing, it will help accelerate the transition to sustainable mobility. India has the opportunity and potential to become the world leader in EVs and at Ola, we are proud to lead this charge.”

The Ola Scooter has already won awards like the IHS Markit Innovation award at CES and the German Design Award. Ola had earlier released teaser images and videos of the scooter. The scooter will roll out from the Ola Futurefactory being built on a 500-acre site in Tamil Nadu. Ola Electric recently raised $100 million long-term debt from Bank of Baroda towards the funding and financial closure of phase 1 of the factory.

The first phase is nearing completion, following which production trials of the Ola Scooter will commence. The Ola vehicle engineering team has been testing the Ola Scooter for the last few months, and the two-wheeler has returned best-in-class range, speed and performance, the company said.

In April. Ola Electric had unveiled its plans for the Ola Hypercharger Network, a charging network for its upcoming two-wheeler products. While a home-charger will come bundled with the scooter, the network will have more than 100,000 charging points across 400 cities. In the first year, Ola is setting up over 5,000 charging points across 100 cities.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Latest Auto News