Ola Electric launches new 4 kwh EV range, plans to set up 10,000 fast charging units by April

Ola e-bike service (Image: Ola Mobility)

IPO-bound Ola Electric has launched its new 4 kwh EV range within its Ola S1X scooters cateegory, starting at Rs 1,09,999 per unit. The company has also announced setting up nearly 10,000 charging units across India by April 2024.

The announcement comes days after the company launched its affordable EV range with the S1X scooters, with prices starting at Rs 79,999 per unit.

Along with the new range of EVs, Ola Electric has also decided to expand its service network from 400 centres to 600 centres by April 2024, said Bhavish Aggarwal, Founder and MD of Ola Electric, during the launch event held in Bengaluru on February 2.

Presently, Ola Electric has around 1000 charging units, which is expected to be increased to around 10,000 fast charging units by the next quarter across the country, Aggarwal said at the event.

Consumers will also get to purchase the chargers for home installation at a price of Rs 29,999 per unit and the firm announced an eight-year battery warranty as well.

"EV is going to last longer than ICE. We are going to put our skin in the game for that and make sure we develop EVs with better battery life. We are ensuring today that an Ola EV will have two times the life if an ICE vehicle, " Aggarwal said.

Finance Minister Nirmala Sitharaman in her Budget 2024 speech on February 1, said that the government will bolster EV manufacturing and help develop the EV charging infrastructure.

“As India moves towards its net zero emission target by 2070, the Government will work towards expanding and strengthening the EV ecosystem as well as develop the charging infrastructure," said Finance Minister Nirmala Sitharaman while delivering the Interim Union Budget 2024 speech on February 1.

Ola's Future Factory

In June 2023, Ola Electric had announced it would build an EV hub in Tamil Nadu, comprising an Ola Future Factory for EV manufacturing, and a gigafactory along with co-located suppliers. The company presently has a capacity of 1 million units in its manufacturing facility in Krishnagiri, Tamil Nadu.

"We are also expanding the capacity, and with these initiatives, we have addressed all possible barriers to 2W EV adoption, and we are confident that these will further accelerate the transition to EVs across the country, " Aggarwal said.