CEO Bhavish Aggarwal says that Ola Electric Car plans to bring its first electric car to India in the summer of 2024. With its first car, a sporty electric car, the Indian startup seems to be aiming for a high-end market segment for EVs. The company’s plan for the car business is to start with the most expensive cars and work their way down to the less expensive ones.
The new electric Ola car will have a high price tag, but CEO Aggarwal says it will have a thrilling performance. The vehicle will be able to go from 0 to 100 km/h in only 4 seconds. Before, the company also bragged about how far the car could go on a single charge, which was 500 km.
India Ola car price teased.
The Indian EV startup, which has made the high-end Ola S1 Pro e-scooter, has just released the low-end Ola S1 e-scooter in India. At the same event, Ola’s CEO Bhavish Aggarwal again hinted at the company’s first car, which had been talked about for a while.
In an interview with PTI, Bhavish Aggarwal, CEO of Ola Electric, talked about how the company wants to approach the EV car market from the top down. The new company plans to release high-end products first, than cheaper ones.
The company’s CEO told PTI that Ola’s products would range from “entry-level two-wheelers” that cost Rs 1 lakh to “premium electric cars” that cost Rs 40-50 lakh. The company aims to be a “global leader in mid-size, small, and premium electric cars that are suitable for markets and consumers like India.” The “fastest and sportiest” e-car in India will be this one. We are making a full plan for the car space. We will have cars in the market for low-cost vehicles. We’re starting with a luxury car that won’t be on the market for another 18 to 24 months. We hope that by 2026 or 2027, the number of cars we sell will add up to a million a year across all our products.
Ola’s first electric car will range from 400 to 500 km and go from 0 to 100 km/h in just 4 seconds. This could make it one of the fastest cars you can buy in India and the fastest car made in India. Ola’s electric car will likely cost between Rs 40 and 50 lakh in India.
When it comes to how many units it wants to sell in a month, Ola is likely to keep its goals low. There are many good products from different brands in the Rs 40–50 lakh range, but less than 1,000 units are sold monthly.