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Ola Electric is the EV division of the ride-hailing company Ola, which was founded in 2011.
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Chief executive Bhavish Aggarwal provides a variety of insights regarding the Indian-built electric vehicle in a video presentation.
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Aggarwal also mentions plans for a “full-EV hub.”
The CEO of Ola Electric announced Monday that his company will debut an all-electric vehicle that can accelerate from 0 to 100 kilometres per hour (just over 62 miles per hour) in four seconds, as the race to acquire a foothold in India’s young EV sector heats up.
In a video presentation, Bhavish Aggarwal revealed several information regarding the Indian-built vehicle, which will be the country’s first electric vehicle.
He said it will have a range of more than 500 kilometres per charge (about 310 miles), an all-glass roof, and assisted driving capability. The EV would also be keyless and “handleless.” The car will be available in 2024, according to the company’s plans.
Aggarwal also announced plans to expand the company’s “Futurefactory” in Tamil Nadu state, which presently concentrates on the production of two-wheel electric vehicles, to create a “full-EV centre.”
He estimated that at full capacity, the expanded facility will produce 1 million automobiles, 10 million two-wheelers, and 100 gigatonnes of cells every year. “This… redesigned Ola Futurefactory will be the world’s largest EV ecosystem at a single location,” added Aggarwal.
Ola Electric is the electric vehicle division of the ride-hailing company Ola, which was founded in 2011. The SoftBank Group has invested in both Ola and Ola Electric.
India, which is on course to become the world’s most populous country next year, remains a relatively untapped market for electric vehicles, trailing China, the European Union, and the United States.
“Less than 0.5% of automobile sales in Brazil, India, and Indonesia are electric,” according to the International Energy Agency’s Global EV Outlook.
Ola’s entry into the Indian electric vehicle market will pit it against Tata Motors and Mahindra Electric Mobility, among others. Tata’s Nexon BEV SUV was India’s best-selling electric car in 2021, according to the IEA.