Popular Indian electric two-wheeler manufacturer Ola Electric is expanding its operations to the production of electric vehicles and its concept EV just unveiled points to progress in its evolution. Ola Electric plans to have its first battery-electric car by 2023, which is a very optimistic target.
A tweet by Ola’s CEO Bhavish Aggarwal points to the
possible launch of the company’s first electric car in 2023. Some photos of the
concept car show a stylish design of a hatchback. Ola had begun as a
ride-hailing company but has fast expanded into EV manufacture with a very
strong presence in India. Its two electric scooters launched last year have had
some degree of success in the market.
Ola Electric is aiming to tap from the massive
opportunities in the car segment of the EV market and the company is certainly
pursuing its development of the Ola electric car with great vigor. There has
been some official confirmation that the company’s first electric car which was
teased by its CEO, will be released in 2023. Ola says it will also have a
separate manufacturing facility for its four-wheelers, as the current Future
factory will not be adequate for the manufacture.
There are also indications that Ola will be getting
funding support from Japan’s Softbank Group, which is an indication of the
investment focus of the company. Ola continues to pursue its goals of making
India a hub for electric vehicles. The favorable regulatory and incentive
regime in the subcontinent, coupled with the challenges and cost of driving
combustion vehicles, has continued to draw new converts to the electric vehicle
train in India. More details about the Ola Electric concept car will surface
later as the company continues to hype the car.
