Ola Electric announces international expansion plans

Electric vehicle manufacturer, Ola Electric, has announced plans to enter international markets, starting with Nepal. Next, the Bhavish Aggarwal-led company plans to enter LATAM (Latin America), ASEAN (Association of Southeast Asian Nations) and the European Union in the next phase, increasing the company’s presence in up to five international markets.

The company has signed a Memorandum of Understanding with CG Motors of Nepal, partnering with them as the local distributor for its Ola motorcycles (S1 and S1 Pro). The scooters will be available in Nepal from next quarter.

Bhavish Agarwal, founder and CEO of Ola, said, “The global electric car revolution has so far been limited to the West and China. To truly take the electric car revolution to the human level, India must be the epicenter of change. Ola is committed to creating an EV model for the rest of the world by building half of the Vehicles the world needs in India. Our international expansion not only means that we as a company will be able to serve customers in these similar regions, but it is also a testament to the fact that India will lead the electric vehicle revolution for the world.”

Ola Electric, once valued at $5 billion, recently unveiled an ambitious 4-watt project with its first public unveiling of a car. Ola Electric was selected by the government under the PLI scheme of the cell ₹80,000 crore, receiving a maximum capacity of 20 GWh for presentation in March. In addition, it also won the PLI for manufacturing electric vehicles.

Offline Stores

In the seven months since its e-scooter launch, Ola has sold 70,000 units of its electric scooters even as consumer reactions to late deliveries, low scooter range, and accidents related to electric vehicle fires have struggled. Last month, Ola again opened the online booking window for its electric scooters, but the lukewarm response from customers prompted Unicorn EV to open offline stores. Earlier this week, the company said it has opened 20 trial stores and plans to open more than 200 by March 2023.

Also, Ola recently laid off 200 engineers as part of the company’s internal restructuring, which represents 10 percent of the total engineers Ola employs at the group level. According to Ola, this restructuring is done to “centralize operations, reduce redundancy, and build a robust profile that enhances related roles and functions.”

The mobility company has increased focus on non-software engineering areas as it builds engineering and R&D capabilities across vehicle, cell, battery, manufacturing, automation, autonomous engineering flows, and more.

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September 22 2022

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