1M cars, 10M two-wheelers, 100 GwH cells: Ola aims to make India EV hub with FutureFactory
At a closed-door press meet, Bhavish Aggarwal, Founder and Group CEO,, laid out the company's plan to now launch cell and battery manufacturing at Ola FutureFactory. The company aims to produce 10 million electric two-wheelers, one million cars, and 100 GwH cells at the factory by 2024.
It also announced the launch of its all-new S1 scooter, with the latest MoveOS features, for Rs 99,999. The pre-bookings start from August 15, 2022 to August 31, 2022, for Rs 499.
Bhavish Aggarwal, Founder and CEO, Ola, said, “Over the last year, EVs have been at the centre of transforming personal mobility. At Ola, we have been at the epicentre of this change, driving adoption, and increasing access and affordability. There is much to be achieved yet. Currently, less than 15% of Indians own a 2W or a 4W, and with India poised for strong economic growth, the Indian automotive industry will witness demand for 20 million 4Ws and 50 million 2Ws each year."
"We believe that India needs to become the global epicentre of the EV revolution and command 25 of the world’s automotive market. Today, at Ola, we are taking Mission Electric to the next level by ensuring we have a roadmap to invest in technology, build scale, and bring quality products that India deserves. As we build for India, we will also be creating the EV paradigm for the rest of the world,” he added.
He also announced that Ola Electric will have one of the most ambitious four-wheeler projects built in India. Like its first scooter, Ola’s debut four-wheeler vehicle will be rich in features and specs and will debut by the summer of 2024, he said. The car will go from 0-100 km/h within four seconds, and is being developed to have a range of more than 500km/charge.
Designed to deliver a drag coefficient of less than 0.21, it will be the sportiest car ever built in India with an all-glass roof. The car will be equipped with an advanced computer, assisted driving capabilities, keyless and handless doors, among many other features etc. It will also have Ola’s very own MoveOS software and car owners will be able to receive regular feature updates OTA throughout their ownership span.
The Ola S1 is equipped with a 3 KWh Lithium-ion battery pack. It also gets an ARAI-certified range of 141 km, a true range of 101 km on Normal mode, 128 km on Eco mode, and 90 km on Sports mode. The Ola S1 also comes with some most popular MoveOS features like music playback, navigation, companion app, and Reverse mode. Its top speed of 95 Km/h makes it one of the fastest scooters in the segment. It is available in Porcelain White, Jet Black, Neo Mint, Coral Glam, and Liquid Silver.