Company Research Report: Ola Electric
Company Overview
Name and Mission
- Name: Ola Electric
- Mission: Moving people, and the world
Founding Information
- Founded: December 2010
- Founders: Bhavish Aggarwal and Ankit Bhati
Key People
- Co-Founder and CEO: Bhavish Aggarwal
Headquarters
- Location: Bengaluru, Karnataka, India
Number of Employees
- Total Employees: 7,000+
Revenue
- No information is available
Company Specialty
- Known For: Ola Electric is known for being India’s largest mobility platform and providing a wide range of transportation solutions, including electric vehicles, fleet management, and financial services.
Products
Ola S1 Series
1. Ola S1 Pro
- Range: 195 km
- Acceleration: 0-40 km/h in 2.6 sec
- Battery Warranty: 8 years
- Price: ₹1,34,999 or ₹3,299/month
2. Ola S1 Air
- Range: 151 km
- Acceleration: 0-40 km/h in 3.3 sec
- Battery Warranty: 8 years
- Price: ₹1,07,499 or ₹2,699/month
3. Ola S1 X
- Range: 193 km
- Acceleration: 0-40 km/h in 3.3 sec
- Battery Warranty: 8 years
- Price: ₹74,999 or ₹1,899/month
Roadster Series
1. Roadster X
- Starting Price: ₹74,999
- Delivery From: January 2025
2. Roadster
- Starting Price: ₹1,04,999
- Delivery From: March 2025
3. Roadster Pro
- Starting Price: ₹1,99,999
- Delivery From: January 2026
Ola App
- Features: Booking rides, buying insurance, accessing Ola Money, and more.
Postpaid+
- Key Features:
- Buy now, pay later for all spends once a month
- Credit limit up to ₹100,000
- Trusted by 40 lakh+ users
Insurance
- Key Features:
- Effective insurance coverage for various risks
ONDC Food
- Description: Service for ordering food through the Ola app
Recent Developments
New Products and Features
- Indigenous Lithium-Ion Cell, NMC 2170: Developed in-house, mass production to begin by 2023
- Battery Warranty: Introduction of an 8-year industry-first battery warranty with every S1
Partnerships and Investments
- PLI Agreement: Signed with the Ministry of Heavy Industries for local battery cell manufacturing
- Investment: $500 million in Battery Innovation Center (BIC) in Bangalore to develop advanced cell technology
- StoreDot Investment: Strategic investment in StoreDot for extreme fast charging technology
Major Announcements
- Sankalp 2024 Initiative: Highlights new innovations and roadmap
- Gigafactory and Battery Innovation Center: To bolster local manufacturing and R&D capabilities
- Electric 4W Development: Currently developing their first electric four-wheeler
Corporate Initiatives
- Ola Foundation: Impacted over 1 lakh families in FY 2020-21 and enabled 93 lakh meals across India
- Drive the Driver Fund: Relief fund for the driver community amid the pandemic
This report provides a comprehensive overview and recent updates about Ola Electric, capturing their product lines, innovations, partnerships, and impact initiatives, creating a detailed profile for market analysis.