Bhavish Agarwal, Co-Founder, and CEO of OLA just held a virtual conference to announce the launch of Ola Electric’s Hypercharge network in India. The company will strive to make the largest two-wheeler fleet in the world with 100,000 charging points in 2026. This will be spread across 400 cities! Sounds too good to be true? This is just the start of the future.
The company expects to build 10 million electric two-wheelers by June 2022. This was confirmed by Agarwal on his factory visit in March 2021. Hence, on Earth Day, they decided to announce the best initiative ever that would be eco-friendly by emitting the use of petrol and diesel. The manufacturing is being done in a gradual process, keeping in mind the second wave of COVID-19 in India.
What is the Utility of the Electric Two-Wheeler?
The electric two-wheelers will help individuals have their own safe vehicles. It will be a sustainable mode of transport and will add to the company’s vision of becoming the ‘OLA of the World’ in the next few years. By 2022, the company will set up nearly 5,000 charging points in 100 cities. Around 18-20 minutes will be utilized in charging the vehicle to 100%, which is a very quick amount. This will help the scooter travel across 75 km. Fair deal!
Agarwal claims that the scooters will vary across the range, with some having the capacity to cover 150 km with one charge. Ola Hypercharge networks will be deployed across cities, prevalent in popular public spaces. This includes office complexes, IT parks, shopping complexes, and more. Users will also get a bundled charger at home that can be linked to an app to determine the progress.
What’s the goal for the next 5 years?
OLA will be investing nearly $2 billion in the OLA Electric Future Factory. In addition to manufacturing the vehicles, a lot of money will also be spent on advertising and marketing.
What do you think of the company’s sustainability initiative?