fbpx

Ola to take e-scooter to international markets this year

ola

Ola Electric is planning to take its electric scooter to international markets this year, including countries like France, Italy, and Germany, a top company executive stated.

The company is set to roll out its electric scooter in India in July this year.

Commenting on the development, Bhavish Aggarwal Ola Chairman and Group CEO said, ‘We are going to be launching internationally, this financial year itself, we will be selling internationally also. We start with India first but soon, we move into international markets with a focus on Europe.’

The company has not revealed details like the pricing of the e-scooter.

Last year, Ola had announced a Rs 2,400-crore investment for establishing its first electric scooter factory in Tamil Nadu. After completion, the factory will generate almost 10,000 jobs and will be the world’s biggest scooter manufacturing plant that will originally have an annual capacity of 2 million units.

‘We will be selling our scooters across all key markets in Europe. Key markets are the big countries especially those lying around the Mediterranean Sea, like France, Italy, even Germany is a good market. The UK is a good market, Spain is a great market,’ Aggarwal stated.

He added that India is going to be given priority as Ola is an Indian company, but the company will also focus a lot on exports and global markets.

Aggarwal also indicated that the company might introduce electric cars in the future.

‘This network, the Hypercharger Network is focused on two-wheelers. In due course, we will expand this network to four-wheelers also, when our four-wheeler products come out in a couple of years,’ he said.

Speaking about the impact of the pandemic, Aggarwal said there hasn’t been any serious disruption as of now.

In May last year, Ola Electric had acquired Amsterdam-based Etergo BV for an undisclosed amount. The firm had said the acquisition of Etergo would further boost its engineering and design capabilities in the electric mobility segment.

Last month, Ola Electric had announced establishing a ‘Hypercharger Network’ in the nation that would include one lakh charging points in 400 cities.

It is always a proud moment for the country to see homegrown bands go global and mark their presence in the international markets.

Shishir Gupta, Founder and CEO, StartupLanes

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For publishing an advertorial article about your company on our website, drop an email at taniya@startuplanes.com

Tags

top