Ola Electric to enter global markets, starting with Nepal
Indian electric two-wheeler manufacturer Ola Electric on Thursday (September 22) said it plans to foray into international markets, starting with Nepal. The company has signed a memorandum of understanding(MoU) with CG Motors of Nepal, which will act as the distributor of its Ola S1 and S1 Pro scooters. The company said the scooters will be available in Nepal from the next quarter.
India has loved the Ola S1 scooters, ushering in our EV revolution.
Now we’re taking this global! Announcing our entry into Nepal today. By end of 2022, Nepalese consumers will join the revolution.
LATAM, ASEAN & EU soon. World’s EV transition will be led by India! #EndICEAge pic.twitter.com/2Bb4agKZzg
— Bhavish Aggarwal (@bhash) September 22, 2022
Ola Electric
- Type – Private limited
- Industry – Electric vehicles
- Founded – 2017; 5 years ago, in Bengaluru, India
- Founder – Bhavish Aggarwal
- Products – S1, S1 Pro
- Services – Motor vehicle manufacturing, Motor vehicle distribution, Charging solutions, EV batteries
- Parent – ANI Technologies (2017–2019), Ola Electric Mobility Pvt Ltd (2019–present)
Agarwal said Ola Electric also has plans to expand into LATAM, ASEAN, and the European Union in the next phase, which will help the company gain a foothold in five foreign countries. Bhavish Aggarwal, Founder, and CEO, Ola said, “Our international expansion will not only mean being able to serve customers in these similar regions as a company, but it is also a testament to the fact that India will lead the EV revolution for the world.”
He said that to take the electric vehicle revolution to the next level, India has to be the epicenter of change. Ola currently sells the S1 and S1 Pro-e-scooters in India, which are priced at INR 99,999 and INR 1.40 lakh, ex-showroom, respectively. The S1 offers a 141 km riding range per charge, while the S1 Pro offers a 181 km riding range per charge (ARAI certified). According to a recent announcement, by March 2023, Ola Electric will have over 200 experience centers across India. It said it has sold more than 10,000 S1 scooters so far.
Valued at $5 billion, the firm is on a strong footing to become a vertically integrated mobility company. Ola recently unveiled an electric four-wheeler project. According to the information given earlier, the Ola electric car will catch the speed of 0-100 kmph in just 4 seconds. The electric car will have an aerodynamic design and will likely offer a range of up to 500 km per charge.
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