Bangalore, March 13: Bhavish Aggarwal-led Ola has succeeded with its e-scooters like Ola S1 E-scooters and Ola Cab services in the Indian market. Ola, the Indian multinational ridesharing company, is now planning to launch its electric auto-rickshaw ahead of IPO. Currently, the e-rickshaw market has been dominated by the companies like Kinetic, Mahindra, Piaggio and others like Atul Auto and Jezza Motors. With the introduction of the Ola e-rickshaw, the market could see a new shift in demand. 

According to a report by The Economic Times, Ola Electric has finalised its plans to launch a new electric auto-rickshaw, which it may unveil later in March 2024. The report mentioned that the upcoming Ola e-rickshaw will be directly sold to the consumers. As per the report, the Ola electric auto-rickshaw will compete with the other e-rickshaws in the market, such as Mahindra Treo, Piaggio Ape e-city and others that have been popular in the three-wheeler segment. Bajaj Auto Likely To Launch World’s First CNG Bikes Soon, Trademarks Three New Names for Its Upcoming Segment: Report.

The report said Ola Electric is reportedly looking to make a slew of announcements, including one for the gigafactory. It also mentioned that the company has been working on its e-rickshaw to enter the commercial vehicle business. The report highlighted that the government transport website Vahan showed that over 5,80,000 electric three-wheelers were sold, about 66% higher than in 2022. It also said that three-wheelers in the electric segment comprised over 50% of total three-wheeler sales last year. EV Charging Station in UP: Statiq Deploys Its First EV Charging Facility in Ayodhya for Green Mobility.

According to a report by Business Today, Ola announced price cuts for its popular e-scooter price range, such as the Ola S1, Ola S1 X+, Ola S1 Pro, and Ola S1 Air, in February 2024. The report said that the top model, the Ola S1 Pro, was reduced by Rs 17,500, making it available at Rs 1,30,000. The other models also had significant price cuts. The growing popularity of the Ola e-scooter led to a 100% year-on-year growth for its EVs compared to the previous year.

(The above story first appeared on LatestLY on Mar 13, 2024 01:01 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).