As part of the ongoing restructuring, Ola founder Bhavish Aggarwal wants to move ANI Technologies’ intellectual property (IP) rights to the Ola name to a holding firm run by his family office.
As the larger markets and sectors change, Ola’s spokesman informed a media outlet that the group’s structure is being proactively reconfigured to generate greater value and operational agility. This change will be implemented carefully and announced at the appropriate moment.
Investors in ANI are concerned about the decision because they fear they may lose out on future brand value. In exchange for royalties, ANI Technologies currently licenses the Ola brand to Ola Electric. ANI shareholders might not receive these future profits if the brand intellectual property is transferred out of the company.
ANI Investors Holds no Stake in Ola Electric and Krutrim
The matter is delicate because neither Aggarwal’s artificial intelligence (AI) startup Krutrim nor his electric mobility business Ola Electric are owned by ANI’s backers. The move’s structure and whether board or investor approval would be necessary are still unknown.
If the transfer is successful, Aggarwal will have more freedom to use the brand in all of his endeavours while maintaining control from his family office. In order to promote and grow his AI business, Krutrim Aggarwal promised in December to use 1.1% of the company’s equity share capital, or around INR 452 crore, to facilitate funding through debentures.
As it considers the launch of an initial public offering (IPO) of the ride-hailing company, ANI Technologies, the parent company of Ola Cabs, has started preliminary talks with investment banks.
Ola Already in Lot of Trouble
Ola Electric is under more pressure than ever after the Transport Ministry requested trade certificates from the Bengaluru-based EV manufacturer. According to a media outlet, the company received a show-cause notification .
The notice stated that Ola Electric must respond to the aforementioned questions within seven days of receiving this letter in order to prevent any negative consequences.
On 24 April, Ola received a new show-cause notice that requested information on the number of sales and service centres the business now operates. The notice further asked about the number of trade certificates it has obtained in the last three years and the date of issuance of each certificate.
Additionally, Ola Electric must clarify if its facilities are used to store unregistered automobiles. In addition to the aforementioned, the EV manufacturer must disclose the model and variant-by-variant information for the 7,820 EV scooters it sold in February.
Ola Electric stores operating without a trade certificate have been asked to close by the Maharashtra transport department, according to a media source. In a show-cause email to RTOs, Maharashtra’s joint transport commissioner stated that action should be taken to close the centre and rescind the original trade certificate.
Ola Electric is under more pressure than ever after the Transport Ministry requested trade certificates from the Bengaluru-based EV manufacturer. According to a media outlet, the company received a show-cause notification .
The notice stated that Ola Electric must respond to the aforementioned questions within seven days of receiving this letter in order to prevent any negative consequences.
Notice Also Seeking Details of Sales and Service Centres
On 24 April, Ola received a new show-cause notice that requested information on the number of sales and service centres the business now operates. The notice further asked about the number of trade certificates it has obtained in the last three years and the date of issuance of each certificate.
Additionally, Ola Electric must clarify if its facilities are used to store unregistered automobiles. In addition to the aforementioned, the EV manufacturer must disclose the model and variant-by-variant information for the 7,820 EV scooters it sold in February.
Ola Electric stores operating without a trade certificate have been asked to close by the Maharashtra transport department, according to a media source. In a show-cause email to RTOs, Maharashtra’s joint transport commissioner stated that action should be taken to close the centre and rescind the original trade certificate.
Outcome of the Raid Conducted on Ola Outlets
Out of 146 Ola stores overall, 121 were discovered to be operating without a trade certificate at the time of the raid. 192 Ola electric scooters have been confiscated by the authorities, and 75 of these have already been closed.
Regarding a letter from the authorities ordering the immediate closure of more than 100 showrooms in Maharashtra, Ola responded in an exchange filing on April 25. It stated that the brand was unaware of any such conversations or occurrences.
Furthermore, through its notification dated March 21, 2025, the business has already notified the exchange that it has received notices in four states about trade certifications for outlets situated in those states.
Unit Sale Discrepancy
The e-scooter manufacturer was recently under investigation for a discrepancy between its reported February sales and actual registrations. Ola reported selling over 25,000 units in their filing on February 28.
The official portal’s automobile registration tally, however, provided a different picture. Only 8,600 Ola Electric scooters were registered on the portal during that time, according to the data.
Since the government has become aware of this disparity, the ministries of highways, road transport and heavy industries have asked the business for information in order to elucidate Ola’s sales numbers.
The “large gap” between car registrations according to the VAHAN portal and sales according to the company’s regulatory filing on February 28, 2025, for the month of February this year is the subject of these enquiries.
In response, the SoftBank-backed company informed the ministry that its February sales comprised client reservations for 1,395 Roadster X motorcycles and 10,866 third-generation e-scooters. The business called them “confirmed orders”.
In order to increase its market share, Ola Electric, run by Bhavish Aggarwal, is facing severe regulatory action. The brand has recently reported to have included bookings for electric motorcycles and scooters that haven’t even been released yet in its February sales. According to a media report, Ola Electric stated in a letter dated 21 March to the Ministry of Road Transport and Highways that 10,866 Gen3 e-scooter and 1,395 Roadster X motorcycle reservations were included in its February sales data. Ola started shipping Gen3 e-scooters last month, but it hasn’t even started shipping Roadster motorcycles yet. Approximately half of the 25,207 “confirmed orders” in February fell into these two groups. According to the report, the ministry therefore wrote to Ola on March 31 to ask for an explanation of its monthly sales. It should be mentioned that, according to data from the Vahan Portal, Ola claimed to have sold 25,000 units in February, but only 8,600 of those vehicles were registered. In the past, the business had referred to it as a “clear case of temporary backlog” brought on by discussions with its vendors that handle vehicle registrations.
Centre Yet to Launch Formal Investigation
As per the report, the Centre may investigate Ola’s violations of local regulations or misreported sales. Ola Electric announced it had “nearly cleared” its February backlog in a statement issued on April 1. The firm further stated that it is anticipating clearing the remaining backlog for the February–March period by the end of this month. According to reports, Ola has been instructed by the ministry to update the February 2025 sales figures to only include the units that were invoiced in that month. Additionally, it threatened the business with “adverse action” if it didn’t reply to the letter within seven days. Ola Electric, which is already under regulatory examination for allegedly running stores without trade permits, has suffered yet another setback. Maharashtra RTO officials reportedly inspected Ola showrooms throughout the state last month. Officials further impounded scores of automobiles for noncompliance during a discrepancy between the company’s declared sales figures and real vehicle registrations in February.
Maharashtra is simply not the only state seeing the crackdown. According to reports, Ola Electric closed all of its showrooms in Punjab, ostensibly to escape criticism from the government for trade certification infractions. Ola received notifications from Madhya Pradesh RTO officials for allegedly selling unregistered scooters without legitimate commercial certifications. The Central Consumer Protection Authority (CCPA) is also looking into the EV manufacturer due to claims of poor car sales, delays in servicing and delivery, and other consumer concerns.
Recent Financial Outlook of Ola
Ola Electric reaffirmed that it slashed its monthly cash burn by INR 90 Cr due to cost-cutting measures in its FY25 investor presentation, which was made public on April 1. The company also stated that it anticipated reaching EBITDA breakeven in the automotive segment in Q1 FY26. Despite fierce competition from companies like Bajaj Auto and TVS Motor, the business is proud to have maintained its leading position in the electric two-wheeler industry in FY25 with 344K registrations and 30% market share. But it’s crucial to remember that since the second part of FY25, Ola Electric’s market share has been steadily declining. Its market share in EV two-wheelers actually decreased to 12% in February 2025 before slightly increasing to 18% in March 2025.
Company Profile is an initiative by StartupTalky to publish detailed and verified information on every company. This article has been checked and approved by theEVeez team.
An ebike subscription business allows customers to rent or lease electric bicycles for a certain period of time, rather than purchasing them outright. This model can be beneficial for customers who only need to use an e-bike occasionally, or for those who want to try different models before committing to a purchase.
The e-bike market in India is still in its early stages, but it has been growing rapidly in recent years especially with the increasing concerns about air pollution, traffic congestion, and the need for more sustainable transportation options. Additionally, the Indian government has been promoting the use of e-bikes through various initiatives such as tax incentives and subsidies.
Eveez is one such company which provides an all inclusive electric mobility as a service (eMaaS) on subscription.
In this article, you’ll get to know more about Eveez, its Co-founders, products and services, business and revenue model, and more.
The core belief behind running EVeez has been two-fold. First, to accelerate EV adoption in India which is absolutely essential if we are to leave a better planet for our children. Deteriorating Air quality and Pollution are severe health hazards and such a situation cannot be allowed to fester forever. Making a positive change towards cleaning up our environment, even if we started small, was a wholly important part of our mission.
Second, it is to give freedom, flexibility, access to finance and EVs for the millions of gig workers across its major cities. What founder has noticed so far in the gig economy is that individuals are getting trapped due to the heavy burden of bike EMIs, huge fuel costs and maintenance bills. They are getting trapped permanently in an ecosystem which is supposed to be a temporary gig, a seasonal job or mostly just a stepping stone for a better life. So, a comprehensive electric mobility as a service (eMaaS) offering like EVeez is needed for people to check in and out of the gig economy at will.
EVeez – Market/Industry Details
Given the accelerated pace at which the EV and eMaaS sectors have been growing, following are the projections for 2025 –
Serviceable Addressable Market (SAM) – B2B & Shared Mobility Electric 2 Wheeler market – 2.5 million eBikes.
The above estimates have been made using Mcksiney’s future of mobility report published in July 2020.
EVeez – The Idea and Starting Up
I was backpacking in Europe and had the good fortune of experiencing riding an electric cycle on the country roads. We rode cross country across the alps in Austria on an electric cycle and it was the best way of exploring the pristine beauty of the landscapes. It was clean and green while also being a fun activity at the same time. When I came back, I explored if India had a similar ecosystem to explore nature here, especially the hills. This was around 2019. I also checked what kind of Original Equipment Manufacturers (OEMs) of such electric cycles were there in India. I got in touch with a couple of them and started a travel and tourism company which provided electric cycles on rent to people visiting tourist towns like Rishikesh, Manali, Goa, Jaipur etc. We had a small, closely knit, yet growing community of travel enthusiasts, both from India and abroad who loved to explore India through this innovative concept. During the course of this business, people from the delivery ecosystem began to get in touch with us with requests for electric cycles on a monthly subscription basis. These conversations gave us the Aha moment and we realised that there is a huge latent demand for such a service in the commercial sector for last mile deliveries, logistics etc. – Gaurav Rathore (Co-founder, EVeez)
EVeez provides an all inclusive electric mobility as a service (eMaaS) on subscription. The key problem company is solving is taking away all barriers to EV adoption. The USP is an end to end service including maintenance, consumables, insurance, and battery swaps, all without a lock in period.
EVeez – Founder/s + Team Details
Gaurav Rathore, Co-founder
Abhishek Dwiwedi, Co-founder
Gaurav is an IIT Bombay grad who has worked at Deloitte consulting for a host of MNCs like Schlumberger before turning to full time entrepreneurship. Founded the hugely successful Political Strategy Consulting firm – PoliticalEDGE, prior to EVeez. Worked on a wide range of for-profit development projects with international NGOs and foundations. Gaurav Rathore takes care of strategy, finance and tech.
Gaurav met his co-founder Abhishek while working on some projects in the for profit development sector in 2009-10.
Abhishek Dwivedi is an NID Ahmedabad Alumni and possesses the unique skill set of amalgamating design thinking with strategy and operations. He is a travel enthusiast and a biker as well. One of the biggest mindset challenges with regard to EV adoption has been range anxiety. Just to shatter this myth, Abhishek undertook a 400 km trip on an eBike from Manali to Leh, one of the most difficult terrains in India. His earlier experience in the development sector also helps the company in getting a deeper understanding of the gig worker, who continues to be our primary focus as a user. Abhishek Dwiwedi takes care of Ops, Procurement, Hiring and Branding. .
EVeez is now a team of approximately 70+. Its work culture is that of taking ownership. No individual is discouraged from taking any creative initiative of their own in order to further company’s mission. It kindles an entrepreneurial spirit among all colleagues. Even while hiring, company looks for people who have a more holistic/creative approach to problem solving.
EVeez – Name, Logo and Tagline
EVeez just means – EVs with ease and it was a pretty obvious name that came to us once we knew what business we were getting into.
EVeez – Business Model and Revenue Model
The business and revenue models are pretty straightforward. EVeez provides weekly or monthly subscriptions of eBikes to gig workers, individual riders and small to medium businesses. EVeeza is EBITDA positive as of Dec’22.
Company had the distinct advantage of potential customers from the delivery ecosystem directly reaching out to it before even it had an eMaaS offering. After formulation a marketable eMaaS plan with the right eBikes, Abhishek Dwiwedi and Gaurav Rathore went to swiggy/zomato hubs and markets across Delhi NCR to do demos of the electric bikes highlighting their features to gig riders.
EVeez – Startup Challenges
The major challenge EVeez has faced was people’s mindset towards EVs. The riders had massive apprehensions about the range, payload capacity, and ability of EVs to go on inclines/slopes. The general disbelief towards the capabilities of an EV were extremely high.
EVeez convinced heavy lifting operators such as atta chakkis to give it their feedback and videos of delivering 25-50kg wheat on EVeez’s eBikes without any hassle. Such initiatives were taken in the early stages to convince riders.
Similarly, Abhishek’s 400 KM Manali-Leh trip on the most difficult terrain highlighted that eBikes were capable of tackling both inclines/slopes and assured people of range and reliability.
A second big challenge was – how to get financing for the eBikes especially at a time when the ecosystem was not this evolved. For this, company came up with a unique partner programme to which several individuals including salaried employees and businessmen signed up for to finance eBikes for its operations as the returns given by it were higher than FDs and even mutual funds in most cases.
However, now EVeeza has access to many more options for financing these eBikes at an institutional level.
EVeez – Growth
The company had the distinct advantage of potential customers from the delivery ecosystem directly reaching out to them before even they had an eMaaS offering. After thye formulated a marketable eMaaS plan with theright eBikes, founders went to swiggy/zomato hubs and markets across Delhi NCR to do demos of the electric bikes highlighting their features to gig riders.
As of Jan23 EVeez is operating in Delhi, Gurgaon, Faridabad, Noida, Ghaziabad, Kolkata, Hyderabad, Bangalore with 1500+ individuals, 150+ small and medium businesses, 40+ logistics companies.
Few of their notable clients areZomato, UberMoto, Swiggy, CABT, Sploot.
Few notable partners of Eveez are Sun Mobility, Battery Smart, Hero Electric, SES Electric, Amo, Leaf Round, OTO Finance, Alt Mobility, GripInvest, Sateek.
EVeez – Funding
EVeeza is a seed funded company and the lead investors are EV2 ventures and Ah! Ventures. Company raised a seed round of just under $1 Million.
Funding has helped EVeeza in hiring the best talent, building the tech stack, and leverage more finance from its eBike finance partners.
EVeez – Competitors
Zypp Electric
Yulu bikes
Lightning Logistics
EVeez – Future Plans
EVeez wants to immediately add a couple of more locations and reach 5000 eBikes before March’23 and 25,000 eBikes by the end of March’24. In terms of features, EVeez continuously works with all partners and tech team to enhance safety, reliability and range. Company also has an upcoming rewards programme.
FAQs
What is EVeez?
EVeez provides eBikes on subscription to businesses who is looking to reduce their carbon footprint.
Who is the founder of EVeez?
Gaurav Rathore and Abhishek Dwivedi
What is the size of EV market in India?
Indian electric vehicle (EV) market size was valued at USD 1.45 billion in 2021.
Ola is a Bengaluru-based ride-sharing company that only a few people are ignorant of. Ever since Ola cabs became operational in all the major cities throughout India, it has become our go-to option. Along with the US-based Uber, Ola is one of the most dominating ride-sharing companies that offers the users a wide range of vehicles and renting options to choose from!
India’s leading mobility platform, Ola has been operating since 2010, when it was founded and has already streamlined its ride-booking and car renting service and its different modes throughout these years with a focus on its users to add to its growth.
Now, Ola has also chosen to empower sustainable development and therefore, came up with its unique concept of “e-scooters” or what we term as “electric scooters”. With Ankit Jain, Anand Shah, Bhavish Aggarwal, and Ankit Bhati as Co-founders, Ola Electric was founded in 2017 and is set to conquer the world with its unique electric vehicles. However, except for Bhavish Aggarwal, everyone else has stepped down from being Co-founders and has also exited the firm eventually. The Founder and CEO of Ola, is also the CEO of Ola Electric, along with being its Founder.
If you have already heard about them and are curious to learn everything about electric scooters, then you can keep this article handy because here we bring you all that you would like to know about these vehicles, including Ola electric scooter booking, Ola E-vehicle price, Ola Electric scooter price Bangalore, Ola Electric scooter range, Ola Electric scooter specifications, Ola charging scooter, Ola Electric scooter helmet and more.
Why Ola Electric Scooter is much like a “Revolution on two wheels”?
Yes, coming up with Ola electric scooters will certainly help people lose track of the rising costs of fossil fuels and all the morbid thoughts about the exhaustion of our fossil fuel reserves and their likes.
Ola electric is certainly a revolutionary idea and even its tagline says so. The tagline for Ola electric scooter says, “Ready or not, a revolution is coming” along with a motivating hashtag #JoinTheRevolution.
Here are the 3 key features that the Ola Electric scooter boasts of:
Big on Acceleration – The Ola electric scooters would be furnished with acceleration to envy and will allow the users to stay ahead on the road.
High on handling – Along with providing a remarkable acceleration, these bikes are also slick and promise exceptional handling on any surface.
Larger boot space – Ola Electric vehicles also come with a large boot space that is capable of storing two helmets and more important things you would need along the ride.
Ola Electric – Birth of the Entity
Ola has announced that its electricity-powered scooter manufacturing company would be different from its ride-sharing wing. They are two different lines of businesses under ANI Technologies where the former will continue to be a ride-hailing business whereas the latter would be associated with the manufacturing and selling of electric scooters.
Ola Electric Scooters – Built, Colour Variants, Specifications, and Charging
Ola has disclosed that their electric scooters will be made available in 2 versions – the Ola Series S – Ola S1, and the top-of-the-line Ola S1 Pro. The company has already launched S1 and S1 Pro scooters with prices starting from Rs 99,999 and Rs 1,29,999, respectively.
Ola electric acquired Etergo BV back in 2020 and announced that the Ola electric scooter is based on the Etergo Appscooter. The company has already adopted the platform of Etergo to be used in India in order to deliver better performance.
Etergo Appscooter
Looking at the Ola Electric scooter specifications, it is great to announce that the Ola electric scooters paces on 12-inch black alloy wheels. Talking about the design of the vehicles, they are clean and sleek in appearance and devoid of any other redundancies. The Ola e-scooters also feature a twin-pod LED headlamp that has an LED strip running around it.
Ola electric scooter
Furthermore, these also have single-sided telescopic front suspensions and their rear shock absorbers are mounted horizontally, with the disc brakes slotted front and in the rear. The pillion footpegs of the scooter fold flush into the bodywork of the vehicles, and at the back, there are chunky pillion grab handles, ending in clear-lens tail-lights.
These scooters are also claimed to be launched with the largest boot space ever, which are capable of accommodating two half-face helmets and still have space for packing in more.
Ola Electric Scooter boot space
As per the batteries, Ola bikes’ batteries are not swappable types. It will rather run on a standard charging system. The Ola S1 Pro charging time, when charged at home is 6 hours and 30 minutes, while the Ola S1 will be fully charged at home in about 4 hours and 48 minutes.
Ola electric scooter’s riding range for the S1 model is 121 km and for its S1 Pro model, it is around 181 km per charge. The latter also includes the Hyper Mode, which is not present in the former model. However, as per the reports in December 2021, the Ola S1 Pro will have a range of 135 km at full charge, which is the true range of these scooters. The earlier mentioned range by the mobility giant was clarified as the range of the E-scooters only on test conditions.
Ola’s electric scooters are reportedly equipped with a 7.0-inch TFT colour display that will feature in-built navigation, onboard diagnostics, and other infotainment functions, and will be powered by an Android operating system.
Matte black, matte pink, and matte sky blue were some of the colour options that were disclosed by Ola initially. However, currently, the S1 Pro model comes in 10 different colours, which are:
Midnight Blue
Matt Black
Millenial Pink
Liquid Silver
Anthracite Grey
Porcelain White
Neo Mint
Marshmallow
Jet Black
Coral Glam,
On the other hand, the S1 model of Ola Electric scooters comes in 5 colours – Porcelain White, Midnight Blue, Coral Glam, Jet Black, and Marshmallow.
The owners of Ola Electric vehicles will be able to charge their scooters using a standard 5A socket by using the portable 750 W charger that comes with the Ola Electric scooter. Furthermore, you can also charge it at one of its ‘Hypercharger’ charging stations. The company has already announced that it will make the stations live for charging scooters in over 100 cities initially, which will eventually cover over 400 cities.
The first Ola Electric Hypercharger was launched on October 25, 2021, ahead of the planned test drives of the Ola electric vehicles scheduled for November 10, 2021. The S1 test rides of the vehicles have already started, and have received an encouraging response from all across the country, as per the reports of November 20, 2021. Furthermore, after witnessing the overwhelming response that Ola S1 scooters have received, Bhavish Aggarwal, Co-founder and CEO of Ola, has decided to extend the test rides to over 1000 cities by December 15, 2021.
Amazed and proud to see the strong response to our S1 test rides! Thousands of you have tried & loved it! We’re now expanding test rides to 1000+ cities across India by Dec 15. This is the largest direct to consumer outreach in Indian automotive history! #JoinTheRevolutionpic.twitter.com/ErxXkflQzO
Ola Electric has invested in StoreDot and thereby partnered with the Israel-based company that works on batteries to develop them for drones and electric vehicles and replace the lithium-ion component in the batteries. With this partnership, Ola Electric plans to equip its EVs with extremely fast-charging batteries that will be charged from 0-100% in just 5 minutes. The EV giant also happens to eye towards foraying into the battery-making space in India soon. Here goes the latest tweet from Ola Chief on March 21, 2022, when he spoke on the same:
We’re investing big into future cell tech. Excited to announce a strategic partnership with StoreDot of Israel. Will be working together to soon bring to market and manufacture its pioneering extreme fast charging cell tech, capable of charging 0-100% in 5 mins in India. (1/2)
The electric vehicles of Ola are currently manufactured in its electric scooter factory in Tamil Nadu, which has a capacity of producing 2 million vehicles annually and the numbers will rise to 10 million by the end of 2022.
Yes, Ola Electric is in process of building its factory, OLA FutureFactory in Tamil Nadu, which will cover an area of around 500 acres. Having 100 acres of forest cover, 2 acres of forest inside, and with negative carbon footprint, Ola FutureFactory is hailed as the world’s most sustainable two-wheeler factory.
The Ola factory boasts a production capacity of 10 million units per year and will operate with the help of over 3000+ AI-powered robots that will have precision robot welding, an advanced automotive paint shop, 100% in-house battery manufacturing, and more. The FutureFactory of Ola will assemble 25000+ motors per day, which will make it the world’s most advanced two-wheeler factory.
The Ola FutureFactory that is set up at Krishnagiri, Tamil Nadu, is believed to be the world’s largest 2-wheeler factory that is planned with the facilities to roll out 1 vehicle every 2 seconds. Phase 1 of the plant is nearly complete. The FutureFactory of Ola celebrated 1 year of its production facility on February 10, 2022.
Exactly a year ago we bought the Futurefactory land and did bhumi pujan. Yesterday we celebrated the foundation day with 2000 women.
Saluting the Girl power at the Futurefactory who showed what it takes to start a revolution. Inspired by their energy and enthusiasm! pic.twitter.com/o9CtkiP4ew
One of the most unique aspects of this FutureFactory is that the Ola factory’s workforce only consists of women, which is the first of such initiatives in the history of Indian automobiles. When it celebrated its 1 year of existence, the Ola FutureFactory had 2000+ women employed, which has a capacity of employing 10,000+ women. This initiative of Ola furthers the possibilities for women leading industries by a step.
Ola might install a solar rooftop to power its factory and cut down on the electricity bills.
What is the price of Ola Electric Scooters?
The website of the Indian multinational ride-sharing company initially declared that the Ola e-scooters would be competitively priced. According to sources close to Ola, these scooters were expected to be priced around Rs 1 lakh mark.
The prices, as unveiled, later on, are tagged at Rs 99,999 and 1,29,999 for S1 and S1 Pro models respectively. At this price segment, these vehicles will compete with the likes of the Bajaj e-Chetak, Ather 450X, and TVS iQube.
Here’s looking at the current prices as per the Ola Electric website:
Ex Showroom Prices in India
Ola S1
Ola S1 Pro
Gujarat
INR 79,999
INR 1,09,999
Delhi
INR 85, 099
INR 1,10,149
Rajasthan
INR 89,968
INR 1,19,138
Maharashtra
INR 94,999
INR 1,24,999
Other Indian States
INR 99,999
INR 1,29,999
Now, as we see, the Ola E vehicle price varies from state to state where Gujarat is apparently having them at the least available ex-showroom prices. Apart from the mentioned states, all other states like Karnataka, West Bengal, Bihar, Andhra Pradesh and more will have their Ola vehicles with starting prices of INR 99,999. Now, if you are looking for Ola electric scooter price in Bangalore, then it would also be starting from INR 99,999.
If you are eager to learn about OLA Electric bike booking and purchase one of such vehicles, then you don’t have to worry anymore because here are some easy steps that will help you with the Ola scooter booking without any hassles. Here’s answering “how to book an OLA scooter online?” with some easy-to-follow steps:
First, you need to visit the official website of Ola electric: www.olaelectric.com and then click/tap on the ‘Reserve for Rs 499’ button, which appears at the top-right corner of your screen.
Now, you need to enter your mobile number, click on the captcha verification box to verify the same, and then click/tap on the Next option.
You will then receive an OTP on your mobile number, which you will need to type in and then click/tap on the Next option.
Then you will get a dialogue box that says ‘Total Payable – Rs 499’ and will offer 3 payment options – Debit/Credit card, UPI, and Netbanking.
After that, you need to choose your preferred payment option, after which you will be redirected to the payment gateway.
After making the payment you will see the final screen, which will confirm your Ola booking by saying “Congrats, you are now part of the revolution.”
As soon as you have completed making the payment, you will receive the order ID and other details via SMS or email to the mobile number and the email address provided.
Ola Electric – Founders and Team
Ola Electric had earlier listed Ankit Jain, Anand Shah, Bhavish Aggarwal, and Ankit Bhati as Founders, but later on, everyone else left the company, making Bhavish Aggarwal, the sole Founder of the company, as of May 12, 2022. Anand Shah was the first founder to leave the company, Ola Electric in 2019. This resignation was followed by Ankit Jain, one of the closest confidantes of Bhavish. Jain left the company in August 2020. Ankit Bhati also left the company in 2020.
Bhavish Aggarwal
Bhavish Aggarwal – Founder and CEO of Ola Electric
Bhavish Aggarwal is the brain behind Ola Electric and Ola, who founded Ola Electric with the other founders. The Co-founder and CEO of Ola and Ola Electric is a B.Tech engineer from IIT Bombay and has been a Research Intern and an Assistant Researcher at Microsoft before he founded Ola.
Ola has already roped in Wayne Burgess, a Jaguar design veteran who also served as the Design Director of Jaguar Production and SVO Vehicles, and plans to make their vehicles big on design, bringing in the global appeal to the vehicles.
Wayne Burgess
Besides, Ola is also planning to launch an indigenously built car in order to foray into the electric four-wheeler industry, which will also get a major boost in its design with Burgess leading their team as the VP of Design. The Ola electric cars are expected to be launched in the next 2-3 years and would be produced in a new Ola 4W factory, which will be a new factory that is yet to be built. The Ola Electric Futurefactory would only stay for 2-wheelers. According to the latest update by Ola chief Bhavish Aggarwal, the Ola electric 4-wheeler would be the sportiest car ever built in India. The 4W factory of Ola would need an additional 1,000 acres of land for its 4-wheeler factory and its proposed gigafactory, which will manufacture cells for both its 2-wheelers and 4-wheeler vehicles.
Funding received by Ola Electric Mobility
Ola Electric Mobility, the subsidiary of Ola responsible for manufacturing Ola Electric scooters, has raised a total funding of $1.5 billion to date over 12 funding rounds and is powered by 21 investors in total. The last Ola Electric funding round was raised on October, 26, 2023 when the company raised $240 million.
The lead investors of Ola Electric Mobility include big names like Softbank, Tata Sons Private Limited, Matrix Partners India, Tiger Global Management, Hyundai Motor Company, Kia Motors, and more.
Here’s a glimpse into all the prominent funding rounds that OLA Electric has seen so far:
Date
Stage
Amount
Investors
October 26, 2023
Debt Financing
$240 million
State Bank of India
September 7, 2023
Venture Round
$140 miilion
Temasek Holdings
May 22, 2023
Private equity Round
$300 million
–
January 24, 2022
Venture Round
$200 mn
Tekne Private Ventures, Alpine Opportunity Fund, Edelweiss, and others
December 8, 2021
Series C
$53 mn
Temasek Holdings
September 30, 2021
Series C
$200 mn
Alpha Wave Global, Softbank
July 12, 2021
Debt Financing
$100 mn
Bank of Baroda
March 12, 2020
Series B
$1 mn
Pawan Munjal Family Trust
September 16, 2019
Corporate Round
–
Kia Motors, Hyundai Motor Company
July 2, 2019
Series B
$250 mn
Softbank
May 6, 2019
Series A
–
Tata Sons
March 1, 2019
Series A
$53.58 mn
Matrix Partners India, Tiger Global Management
Ola ELectric – Growth
Ola Electric, which started taking bookings in July 2021, has already begun achieving some memorable milestones. Some of them can be summed up as:
Ola Electric has clocked sales worth Rs 1100 crore in just 2 days
It was hailed as the best-selling electric 2-wheeler after Hero Electric in March 2022, when it clocked the sale of 9000+ units.
With over 12689 units of Ola Electric scooters sold in April 2022, Ola Electric was recognised as the highest-selling electric two-wheeler company in India.
Ola has sold 41,024 units in 2022, as reported on June 25, 2022.
Ola Electric New Product
Ola Electric is up for a new product launch on the Independence Day of 2022. There are speculations that this new product is an Ola Electric car. It is on the 15th of August 2021 that the EV manufacturers launched the S1-series of electric scooters. So, we need to keep an eye on that for sure!
Here’s what the Ola chief tweeted with regards to the same:
Super excited to announce a new product this 15th August!
The Independence day launch of Ola Electric would be another Ola Electric scooter, at least as per the trailer that Bhavish launched on Twitter on August 7, 2022. The trailer had a scooter just like Ola S1 Pro, carved out as a silhouette, where he mentioned the “greenest scooter just got greener”.
On 15th August, we’ll be revealing the greenest EV we’ve made! Any guesses? 🇮🇳 😉 pic.twitter.com/aMFxToOSTo
Though there are only subtle mentions of the new launch, the Ola product might be an updated version of the S1 Pro model, or it might be an updated colour of the same. Besides, it might also be an affordable version of the Ola scooters. The launch event of the company will be livestreamed by Ola on the Independence Day.
Ola Electric Scooter Sales
After witnessing a noticeable decline in the number of registrations of EV companies MoM, in April and May, the registrations for EVs rose slightly in June 2022, which increased by 6.8% MoM. The situations or growth stories for big companies like Pure EV, Okinawa, and Ola Electric are a little different though. Ola Electric witnessed a 27.3% decline in May, and then again witnessed a 36.5% decline in June, the registration of which counted to 5874 units. This also resulted in Ola losing out its last month’s second position to Hero Electric, whose registration figures, after witnessing a decline over the last 2 months, sprung back again in June, rising by over 128% MoM. Entities like Ather, Ampere, and Revolt, all witnessed a rise in their vehicle registrations in June 2022 unlike Ola, as of July 2, 2022.
Ola, which peaked in its registrations by registering 12,705 units in April 2022, witnessed a prominent downfall, where the Ola Electric sales fell over one-third, to register 3856 units in July 2022.
Manufacturing Batteries
Ola Electric declared that it would be manufacturing batteries for its scooters, which is why it is in talks with numerous global suppliers to build a battery cell manufacturing plant in India. The battery manufacturing plant will have a capacity of up to 50 gigawatts (GwH) hours, as per reports dated June 8, 2022. The manufacturing expenses of such a plant will be around $1 bn. The capacity of the battery manufacturing plant might initially be 1 Gwh, which would eventually be further upgraded. Suppliers from Korea, Japan, Germany, and other countries might serve as the suppliers of Ola Electric. As per calculations, Ola Electric would be needing 40 GWh of battery capacity to successfully power 10 mn. The company has received incentives along with a few other companies, under the Production Linked Incentives (PLI) scheme, where the Indian government announced the investment of around $2.4 bn worth of funds. This government of India scheme aims to boost the local manufacturing of advanced chemistry cell (ACC) batteries.
The EV manufacturers revealed the first indigenously manufactured Li-ion cell, NMC 2170 on July 13, 2022. This cell is completely manufactured in-house, the mass-production of which is expected to begin in 2023 at its upcoming Gigafactory.
Ola developed the country’s first indigenously developed Li-ion cell, NMC 2170
Ola Electric announced on July 18, 2022, that it will invest $500 mn in its Battery Innovation Centre (BIC), which will be set up in Bengaluru. The BIC will serve as an R&D facility for electric vehicle battery cells. However, the electric vehicle manufacturing company hasn’t disclosed the funding round, and whether it will pour money by itself or depend on external funds.
The MoveOS 3 Firmware Update for Ola S1 and S1 Pro Revealed
The Ola S1 and S1 Pro electric scooters would be receiving the Move OS3 software. It is still being put together, as revealed by the automaker company on July 16, 2022, and would likely be released on October 24, 2022, during Diwali. This new firmware update would equip the scooters with advanced features like Hill hold, proximity unlock, moods, regen v2, hyper charging, calling, key sharing, and more.
Pre-Sale Bookings and Sales Records for the Ola Electric Scooters
Ola opened the option for pre-booking their customers on July 15, 2021. Therefore, everyone who was eager to buy the much-awaited e-scooters, and wanted to stay ahead of their peers could pay a refundable deposit amount of Rs 499.
Ola electric vehicles have witnessed pre-bookings of more than 1 lakh vehicles, as reported on July 17, 2021, the numbers of which increased each second.
The purchase for Ola electric bikes was geared to start from September 8, 2021, and the brand was set to kick start the delivery of the products from October 2021, as of the website status on August 2021. The brand also mentioned then that the purchase of the S1 Pro vehicles will be starting from September 8, 2021, and the Ola scooter delivery will tentatively begin from October 2021 onwards. The booking for Ola S1 and S1 Pro had already started back then and you can also find it live on their website as well as the Ola app even today.
However, Ola S1 scooters couldn’t be bought on the mentioned date due to technical glitches in the developer’s end of the website that failed to make it up and running. The website that would be a one-stop solution for digital purchases, which would also guide the customers with a fully digital loan process without any paperwork, wasn’t live on September 8, 2021. Ola co-founder and CEO Bhavish Aggarwal apologized on Twitter for the frustrating experience the customers had to go through and postponed the purchase date to September 15, 8 am. He further reassured that the reservation of the customers in the purchase queue will remain unchanged.
The purchase of the Ola e-scooters went live on the mentioned date, September 15, 2021, at the end of which it was declared by Bhavish Aggarwal that Ola Electric sold 4 scooters/second, which resulted in the sale of scooters worth Rs 600 crores+ in a single day. The total sale of Day 2 was even better as goes the Twitter post of the Co-founder of Ola Cabs, Bhavish Aggarwal:
Day 2 of EV era was even better than Day 1! Crossed ₹1100Cr in sales in 2 days! Purchase window will reopen on Nov 1 so reserve now if you haven’t already.
Ola is also looking to transport their electric scooters to the US by early 2022 as part of its international trade. The CEO of the company, Bhavish Aggarwal has mentioned,
“Yes soon! We will be shipping to the US by early next year,”
in a reply to Vivek Wadhwa, a US-based entrepreneur on Twitter, who earlier referred to the Ola Electric scooters as “the Tesla of Scooters,” further adding, “would love to get one here in Silicon Valley.“
Ola, however, had to postpone the deliveries of the e-vehicles from the month of October to November 2021 due to a global semiconductor shortage. However, the delay has further extended, as per the reports dated November 22, 2021, where the company has decided to defer the first batch of deliveries of its e-scooters to December 15 – 30, 2021, which was earlier expected to happen between October 25 – November 25, 2021.
Ola Electric – IPO
In order to be ready for its Initial Public Offering (IPO), Ola Electric has changed its status to that of a publicly traded corporation. Ola Electric Mobility Private Limited was the company’s previous name and now Ola Electric Mobility Limited before it underwent a corporate restructure in order to reach this noteworthy milestone.
Ola Electric – Partnership
Reliance General Insurance, a private general insurance business, announced a partnership with OLA Electric to offer an Extended Warranty Product in September, 2023.
Ola Electric – Acquisitions
Ola Electric has acquired 1 company to date that goes by the name Etergo.
Name of the Company Acquired
Date of Acquisition
Deal Value
Etergo
May 27, 2020
–
Ola Electric – Investments
Ola Electric has invested in StoreDot, a Tel Aviv-based battery innovating and developing startup that aims to replace the lithium-ion component on the batteries.
Name of the Company
Date of Investment
Funding Round
Lead Investor
StoreDot
March 21, 2022
Corporate Round
Yes
Ola Electric – Challenges
Aiming to transform the types of vehicles and the fuel that fuels them is itself a huge challenge that Ola has embraced with its e-scooters. Ola Electric has also faced many other challenges in its path of making EVs popular, and one of the major challenges is the fire incidents that the vehicle manufacturing company has seen in March 2022. Here are some of the prominent challenges faced by the EV giant so far:
Ola Electric Production Suspended in Tamil Nadu Futurefactory
Ola Electric has paused its production at Tamil Nadu’s Krishnagiri plant, as of July 30, 2022, for nearly a week. It has piled up 4000+ units at the same factory. Though an ET news previously reported that the company has decided to shut down the factory, an OLA Electric spokesperson refuted the reports, and stated that like all factories need annual maintenance, the Ola Futurefactory did too!
Ola’s Change of Payment Model Reduces Sales
Ola Electric initially used to set multiple payment windows for the customers, which opened on 4 specific dates and helped them pay in 4 instalments. However, on May 28, 2022, the Electric vehicle manufacturer changed that payment model to a one-time full payment model, where the customers will have to pay for their vehicles in full on a single occasion. This change has been impacting Ola Electric sales ever since. In the past 2 weeks, Ola has sold only 130-200 units, as per news dated June 25, 2022. Though this model is allowing the company to offer INR 10,000 discounts to its employees, the total vehicle sales were down by 27.3% MoM in May to 9230 units. The total vehicle sale of Ola stood at 41,024 units on June 25, 2022, so far in 2022.
Fire Incident in Pune
An Ola Electric vehicle set itself on fire in Pune in March 2022. This caused widespread fear and anxiety among all and has also led the company to recall 1441 bikes in order to diagnose them and check their overall health including their batteries, thermal, and safety systems.
Guwahati Accident
Amid the fire incident woes, Ola Electric has faced another criticism involving the son of Balwant Singh, a Twitter user, who alleged that he bought an Ola S1 Pro for his son, which met with an accident on March 26, 2022. This accident, he alleged, was due to a fault in the regenerative braking system. However, Ola Electric, in response to this, posted the telemetry data to prove that there were no issues with their scooter and that the accident was purely due to overspeeding and panic-braking. It also revealed the telemetry data in the form of an official statement on its Twitter handle.
As soon as Ola Electric posted the detailed telemetry report along with relevant graphs, proving that the son of Balwant Singh was overspeeding, and met with an accident, Ola Electric started facing huge backlashes for tracking customer data and publicising the same without the consent of the customers. This led Balwant Singh immediately mail Ola Electric and its authority to take down the personal telemetry data of Balwant’s son that was shared. Any further action taken by Ola was not known, but the fact whether the telemetry data can be considered as a customer’s own private data is debatable truly.
Balwant Singh’s son’s case was shot into the spotlight once again on May 12, 2022, when, as per the reports, Ola Electric responded to Singh, asking him to delete the negative reviews on social media within 24 hours or else, he would be facing legal action. The company’s response was backed by its earlier claim that it hasn’t breached data privacy.
Ola Electric Resignations
Ola witnessed another top-profile resignation on May 8, 2022. After Arun Sirdeshmukh, the CEO of Ola Cars, Dinesh Radhakrishnan is the next person to follow. Radhakrishnan was the CTO of Ola Electric who handled critical engineering functions of the company.
Ola Electric – Marketing, Brand Ambassadors and More
Ola Electric has already been a grand pre-booking success and is innovating its marketing strategies to attract the present generation of customers. The company is targeting all the available forms of media including traditional media, print media, and online media to empower the Ola scooter marketing strategy. The company has already roped in Bhuvan Bam, singer, songwriter, actor, and one of the most popular YouTubers of India, famous for his Youtube “BB ki Vines,” as its brand ambassador to hook in the young generation of buyers.
Bhuvan Bam was hired on August 27, 2021, on a contractual basis, the agreement of which declares that the popular Youtube personality would collaborate with the electric scooter manufacturers to create entertaining and eccentric content revolving around the new-age Ola Electric scooters.
Bhuvan Bam seemed thrilled to be an Ola Electric brand ambassador and said,
“I am really happy that Ola Electric considered me as one of their ambassadors. It’s truly exciting to be a part of this green revolution, something I’ve always wished for. The scooters are sleek, attractive, and are designed as per the Indian electric vehicle market. I have joined the green revolution already and I can’t wait for everyone to get their hands on it.”
Ola Electric – Future Plans
Ola Electric has plans to launch its electric car in 2024. Ola Electric is currently looking to establish its battery manufacturing plant in India that will have a capacity of 50-gigawatt hours. Furthermore, along with that, the electric two-wheeler manufacturing company will also be investing in advanced cell and battery manufacturing.
FAQs
How much does Ola electric scooter cost?
The Ola electric scooter has 2 models –
Ola S1 is priced at Rs 99,999.
Ola S1 Pro is priced at Rs 1,29,999.
The Ola e-vehicle prices, as mentioned above, are for all other states excluding Delhi, Gujarat, Maharashtra, and Rajasthan, where people will find the Ola Electric bikes even cheaper.
What is the Ola S1 Pro boot space?
Talking about the Ola S1 Pro boot space, it is safe to conclude that Ola promises to bring you the largest boot space currently available in the market, which will have the capacity of accommodating two half-face helmets, with space for packing in more.
How is the Ola Electric bike booking process?
The Ola Electric scooter booking in India or the Ola Electric bike booking is an easy process where the users would just have to go to the Ola Electric official website and book them online.
What is the range of Ola electric scooter?
The ranges of Ola Electric scooters on a single charge are-
Ola S1 – 121 km
Ola S1 Pro – 181 km
Though Ola has advertised that the Ola Electric scooters would have a range of around 181 km, the true range of Ola bikes is 135 km, as disclosed later on.
What is the top speed of Ola Electric scooter?
The top speed of Ola Electric S1 is 90km/hr whereas for the S1 Pro model the top speed is 115 km/hr.
What are the Ola S1 Pro and S1 charging times?
The Ola s1 pro charging time is around 6 hours 30 minutes, while the S1 variant of the Ola e-scooter will be fully charged in around 4 hours and 48 minutes when charged at home.
How to charge OLA electric scooters?
The Ola Electric scooters can be charged using a 750 W charger that comes with the Ola Electric scooter that needs to be plugged into a standard 5A socket. Besides, the users can also charge their scooters at the nearest Hypercharging stations.
Who is the Ola brand ambassador?
The Ola brand ambassador is none other than the founder of “BB ki vines” Bhuvan Bam.
