Ola Electric is likely to open bookings for a new electric scooter on Monday, August 15, sources have told CNBC-TV18. The announcement is expected to be made at 2pm on Independence Day.
Bhavish Aggarwal-led Ola is set to launch a mass-market scooter priced less than the S1 Pro. Ola's electric scooter is expected to be priced around a lakh approximately. The company will also announce its plans to expand its two-wheeler portfolio, battery and cell manufacturing.
In August last year, the company announced its electric scooter, the S1.
Ola will showcase plans and announce a timeline for launching an electric car with a range of 500 km. Earlier, Aggarwal said that Ola would build the sportiest car in the country. He had also tweeted an image of a concept car.
On July 29, Reliance Industries' subsidiary Reliance New Energy, Ola Electric and Indian jewellery maker Rajesh Exports signed final agreements to build battery cells under the Indian government’s Rs 18,000 crore production-linked incentive (PLI) scheme. The government had selected these companies to build a total of 50-gigawatt hours (Gwh) of battery storage capacity.
The SoftBank Group-backed Ola Electric had said earlier, that the company is planning to invest around Rs 4,000 crore ($500 million) to set up Battery Innovation Center (BIC) in Bengaluru to develop a futuristic and localised cell technology.
In June, reports suggested that the company was in talks with multiple global suppliers to build a battery cell manufacturing plant in India with a capacity of up to 50-gigawatt hours.
First Published: Aug 13, 2022 5:39 PM IST
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