On Thursday, Ola Electric said that it has received Rs 3,200 crore from Temasek-led investors and the State Bank of India.
ANI Technologies’ electric vehicle (EV) unit, Ola Electric, saw a fourfold increase in sales during the Navratra celebrations. During this time, the firm claimed to sell one scooter per minute. According to a statement published by the firm on Wednesday, the direct-to-consumer approach and the establishment of experience centers around the nation have assisted the company in organizing over 1 lakh customer test rides.
Since the previous several months, the firm has been rapidly expanding. The firm recently announced the opening of its first experience center in Chennai. According to the plan, the business will now establish 200 similar centers around the nation by March 2023.
Aside from that, co-founder and CEO Bhavish Aggarwal revealed on Twitter that Ola’s S1 scooters are about to enter the worldwide market, which would be the company’s next major product.
Ola plans to launch a variety of EV goods, including scooters, motorbikes, cars, and SUVs. Their plan is for the introduction of a mass-market scooter by 2025, as well as luxury motorbikes, SUVs, and cars. This wide product portfolio is an important part of their marketing strategy since it caters to many customer categories.
Ola intends to deliver first-rate aftermarket services to improve the client experience. This involves the creation of dark service centers and mobile service vans, which will ensure that EV owners get timely and efficient maintenance and assistance.
Ola has transformed urban travel for more than a billion people across three continents. Ola is contributing to sustainable transportation by producing innovative electric cars at its Futurefactory, which is believed to be the world’s biggest two-wheeler factory.
The firm announced the successful completion of a fundraising round sponsored by Temasek and the State Bank of India.
According to the firm, the cash obtained will be used to expand Ola’s EV business and to establish India’s first lithium-ion cell manufacturing plant in Krishnagiri, Tamil Nadu.
The Bengaluru-based company plans to speed its expansion by increasing its two-wheeler production capacity, releasing electric motorbikes followed by electric automobiles, and expediting the building of a gigafactory.
“At Ola, our vision is to end ICE (internal combustion engine) age in automobiles and our upcoming gigafactory will be a big leap in India’s journey towards becoming a global EV hub. We are committed to developing core technologies in EVs and cells and are rapidly scaling up manufacturing to further accelerate the transition to sustainable mobility,” Ola Electric Founder & CEO Bhavish Aggarwal said.