Learning from a pilot project in Nagpur, Ola is now focussing on two and three wheelers for its electric mobility drive. Ola has set a target of one million EVs in its fleet by 2021 — an ambitious plan considering India lacks the infrastructure and the will to make EVs mainstream.
Ola Focus areas :
- Ola is focussing on deploying 10,000 electric vehicles (EVs), a mix of two and three-wheelers, by the end of March 2020.
- Ola has already started pilots with a fleet of hundreds of three-wheelers in Gurugram
- Focus states: Delhi, Maharashtra, Kerala, Karnataka, Telangana, AP and Gujarat
- Ola has raised INR 400 crore. The money will be spent, on getting the technology and the business model.
Ola Co-Founder View
Sharing the company’s road map for electric mobility, Ola Electric Mobility (OEM) co-founder Anand Shah said, “In our view, we are putting our bets on three-wheelers and two-wheelers in the coming year. It is absolutely fair to say that after the learnings from Nagpur experience, our focus will be on two and three-wheelers first in terms of EVs.”
According to TechSci Research, a management consultancy, the electric three-wheeler market will cross $1 billion in value. Industry lobby ACMA and automotive consultancy Roland Berger estimate that 427,000 e-rickshaws were sold in 2017, a 71% jump over 2015.
Companies like Kinetic Green Energy & Power Solutions, Japan’s Terra Motors, Sweden’s Clean Motion, Lohia Auto, and Hero Electric are looking at three-wheelers to give a big boost to the EV industry. Ola is talking to most of them to buy three-wheelers.