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.