Ola Electric, a two-wheeler electric vehicle manufacturer, has sold over 1,50,000 EVs this year and plans to utilise its production capability and technology to export from India to all important countries such as South East Asia, Latin America, Europe, and Africa.
Ola Electric's founder and CEO, Bhavish Aggarwal, wrote about it in a blog post, “This year, we sold about 1,50,000 EVs and are working towards Mission Electric, which calls for all 2W sales in India by the end of 2025 and all vehicles sold in India by 2030 to be electric.”
Ola Electric expanded its high-end scooter, the Ola S1, in 2022 and finished electrifying the high-end scooter market (priced at more than Rs 1,00,000) in one year.
"We will launch many additional 2W EV products in 2023 and 2024, including a mass-market scooter, a mass-market motorbike, and numerous luxury motorcycles (sports, cruisers, adventure, and road bikes)," Aggarwal stated.
Aggarwal reaffirmed, "Our first car will emerge in 2024 and by 2027 we will have six distinct automobiles in the market."
Aggarwal also highlighted entering into the commercial vehicle category and intends to introduce its own lithium-ion cell by the end of 2023, a crucial component in creating batteries for EVs, during a press conference.
India's electric vehicle (EV) producers now depend on lithium-ion battery cells from China, Taiwan, Japan, and Korea. Presently, LG Chem in South Korea is Ola's primary cell supplier.
"The first and biggest manufacturer of lithium cells in India will be us. Over the last two years, we had been developing the technology; we were independent of any other nations or players at this point," Aggarwal added.
“Strong core technology, localised low-cost supply chain, and world-class products in the 1,00,000 - 50,00,000 price range give us a huge competitive advantage that allows us to export from India and dominate EV mobility in all relevant markets like South East Asia, Latin America, Europe, and Africa.” Aggarwal stated in his blog.
Aggarwal further stated that enterprises should consider acquiring the best people from across the world to accelerate the growth of EVs in India.
"Until we become a global talent hub to attract both non-resident Indian and foreign talent to join us on this path. "We must emphasise intellectual property development, reward IT talent at global levels, and provide an enabling atmosphere for such a diverse talent ecosystem to interact and grow," Aggarwal said.
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