About 15 months after the announcement of its entry into the electric vehicle market in India, the company launched the S1 and S1 Pro scooters. In May 2020, the innovative Ola Etergo BV electric scooter was acquired in Amsterdam, The Netherlands. Ola wants to build the largest motorcycle factory in the world. We want to conquer the market in 2025. It is available in two flavors: S1 and S1 Pro.
The Rs.99,000 and Rs.1,29,999 electric scooters (former showrooms with FAME II subsidies but no government subsidies) and Ola electric scooters have brought a price war to the traditional IC scooter sector. Nadu and Delhi, which have announced their EV policy and subsidized the purchase of electric motorcycles, will find the Ola S1 to be significantly cheaper than many gas-powered scooters.
For example, after receiving government subsidies, S1 costs Rs 85,009 in Delhi and only Rs 79,000 in Gujarat. Ola e-scooter prices outside the showroom are lower than those of India’s best-selling Honda Activa 125 scooter. The scooter has a retail price of Rs. 83,312 to Rs. 90,921 on Gujarat Street.
Bhawish Aggarwal, Chairman, and CEO of the Ola Group want to compete with the scooter industry for traditional electric motorcycles. He talked about the virtual presentation of the Ola e-scooter: how can we reverse climate change and promote national development? Cars in India currently consume 12 billion gallons of fuel a year. To cope with climate change, we need to get rid of this car pollution.
1 million scooters a year or 1 scooter every 10 seconds. Only on this scale can we quickly revolutionize electricity and make electric motorcycles available to everyone. Future Factory is promoting new modernity in Industry 4.0. The manufacturing paradigm of the past was built in China, but the future of manufacturing is being written in India, Bhavesh added.
In addition, almost 80% of the cars sold in India are motorcycles. We sell about 20 million motorcycles every year, but only 12% of the population own a motorcycle. As the country develops, we need to make motorcycles available to more people. But gasoline cannot be a two-wheeled vehicle. Make sure both wheels are electric.
Faced with competition between ICE and EV
President Ola did not comment on the existing motor scooter market in India but also did comment on current electric motorcycle competitors. “Despite the huge market (India), scooters, which are mostly urban vehicles for young people, have not been innovative for decades.
The vehicles on the market today are not exactly what India is looking for. They don’t represent her. “It is also built with the future in mind and is on the market today. Electric vehicles are in almost every respect inferior to ICE vehicles.
Ola’s goal is to create products that are environmentally friendly and innovative compared to those on the market. That’s it. “With the best design, performance, and technology. Simply put, this is the best scooter, the Ola S1, and we look forward to a car. It will make a difference.”
Olas Mission Electric Promise
Aggarwal Announces “Mission Electric” With Electric Scooter Launcher This is a promise not to sell motorcycle gasoline in India after 2025. Its mission is to offer industry and consumers a choice of all-electric gasoline. Ola Electric will officially unveil the Ola S1 on September 8, 2021, and ship it to 1,000 cities in October. In the meantime, the Ola S1 can be ordered for Rs.499.
On July 17, the company announced a record 1 million bookings within 24 hours of ordering. Due to its aggressive pricing strategy for electric scooters, Ola is now buying motorcycles. However, Ola Electric still has its own problems. Now that a significant number of orders were to be received, in excess of the first 100,000, the business had to grapple with the tremendous enthusiasm it generated.
Will Indian Mass Market Players Click on the Direct To Customer Model? What is a secondary market strategy? According to the Electric Vehicle Manufacturers Association, the total number of electric motorcycles sold in India in 2021 will be 1.43837 units, down 5.37% from last year. Is the Indian motorcycle industry heading for overcapacity as companies such as Ather Energy, Ampere Electric, and Hero Electric have expanded or announced the expansion of their capacity?