Ola Electric has put its electric car project on hold for at least two years to prioritise expanding its e-scooter business, as reported by Reuters. The company had been developing a sleek sports car but will now shift focus to a more affordable mass-market vehicle in the future.
Ola Electric pauses its car project for at least two years to focus on e-scooters. | Image Credit: Ola Electric
Key Highlights
- Ola Electric pauses its car project for at least two years to focus on e-scooters.
- Future plans for an affordable mass-market electric vehicle, moving away from the initial sports car design.
- Ola hints at a new e-bike with a larger battery pack and advanced features, possibly launching next month.
New Delhi: Ola Electric, a leading player in the Indian electric vehicle market, has decided to temporarily halt its electric car project to concentrate on scaling up its e-scooter business. According to sources, founder Bhavish Aggarwal has deferred the electric car launch plans for at least two years. This strategic shift, reported by Reuters, underscores Ola’s commitment to strengthening its position in the e-scooter market before venturing into electric cars.
Ola Electric Car: What We Know?
The Ola electric car had been in development for some time, with the first patent image revealing a sleek sports car design surfacing online last year. This design marked a departure from the initial teasers, which showcased multiple body styles. Ola had engaged in preliminary discussions with several auto component suppliers and even developed a car model inspired by a BMW luxury sedan at its UK studio.
However, when Ola resumes its car project, the focus will shift from a premium sports car to an affordable mass-market vehicle. This change in strategy aims to cater to a broader audience, aligning with the company’s long-term vision of making electric vehicles more accessible.
Ola Electric Car: Latest Update
Working on something 😎 pic.twitter.com/xGqWnAub5V
— Bhavish Aggarwal (@bhash) July 24, 2024
In the meantime, Ola Electric continues to innovate in the two-wheeler segment. Recently, the company shared an interesting image on social media of a new e-bike. The photo revealed a big battery pack supported by a tubular frame, along with a front sprocket and chain final drive. This setup is similar to other high-performance electric bikes in India, such as the Ultraviolette F77 Mach 2 and Matter Aera.
While official details are very few, there are chances that Ola’s first e-bike could make its global debut as early as next month. This potential launch aligns with Ola’s strategy of leveraging its expertise in e-scooters to enter the electric motorcycle market.
