With the successful launch of its electric scooters, the Bengaluru-headquartered company has now announced its plans to produce electric cars in the near future, with the goal of disrupting the EV market with Ola branded offerings.
According to OLA’s CEO and co-founder, Bhavish Agarwal, the company might begin developing electric vehicles in two years, that is, in 2023. However, the co-founder declined to disclose more information about how the company plans to dominate the four-wheeler market.
Even though Ola Electric does not produce electric cars at the moment, Ola Cabs is running a fleet of electric four-wheelers as taxis in many major cities throughout India. In addition, the company operates hubs for charging electric vehicles.
In a statement, Agarwal stated that Ola Electric is in the process of developing a plant in Krishnagiri, Tamil Nadu. During an interview with TOI, he said the manufacturing hub would also be used for the company’s future electric vehicles.
There are also plans to build an ancillary factory near the supply centre. It will be built to create an ecosystem where they can sell directly to customers. Automobile industry leaders like Agarwal are also pushing India to become an ‘Electric Vehicle hub’ in the future by investing in the electric vehicle segment.