Mahindra, Ola Electric welcome new EV policy to invite global brands to India

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  • The Centre has approved a new EV policy that is expected to lure foreign brands like Tesla to invest and manufacture in India.
Ola Electric
Indian auto manufacturers like Ola Electric believe that the new EV policy approved by the Centre will help India become the global EV hub of manufacturing and technology.

Indian electric vehicle manufacturers have welcomed the Centre’s decision to lower import taxes to invite foreign EV makers to invest in India and manufacture locally. On Friday (March 15), the Centre had approved a new EV policy which opened the gate for global EV brands to launch in India with the condition to invest a minimum of ₹4,150 crore and deadline of three years to start manufacturing locally. For India, aiming to be the next global hub for electric vehicles, the new policy could see a number of prominent companies like Tesla launching here soon.

India’s largest electric two-wheeler manufacturer Ola Electric and Mahindra, which plans to launch as many as five electric vehicles in India in the next few years, welcomed the Centre’s move. The Centre has promised to reduce EV import duties to 15 per cent for foreign carmakers if they fulfil the government’s condition on investments and local manufacturing. The policy says the imported EV prices should not exceed $35,000 (roughly converted to around ₹29 lakh). The condition restricts foreign EV makers to import no more than 8,000 electric cars to India in a year.

Mahindra and Mahindra issued a statement welcoming the new EV policy, It read, “The recently announced EV policy for new entrants reinforces the Make in India momentum, with requirements of bank guarantees, minimum investment commitment, and local value addition. This will help accelerate the EV ecosystem in India.” The carmaker, known more for its SUVs in India, currently offers XUV400 as the only EV in its lineup. Mahindra also said that first of its upcoming Born Electric SUVs is scheduled for India launch in January next year, most likely during the second edition of Bharat Mobility Global Expo.

Ola Electric too welcomed the new EV policy, calling it a ‘progressive decision’ to lower EV import duties. Bhavish Aggarwal, CEO and founder at Ola Electric, took to social media and said, “This is a win for the Make In India initiative & strengthens our manufacturing ecosystem, propelling India towards a greener future. India will become the global EV hub of manufacturing and technology.” Ola Electric sells the likes of S1 Pro, S1 Air and S1 X electric scooters in India.

Also Read : As India opens door for global EV makers, check out which brands are expected to launch soon

Among global EV makers aiming for a India launch soon, Vitenam-based EV startup VinFast has also reacted to the new EV policy. Pham Sanh Chau, CEO of VinFast India, issued a statement saying, “We highly value the Indian Government’s new EV scheme as it aims to drive large investments in manufacturing, create competencies and upskilling, set up a robust supply chain and offer consumers world-class, zero tailpipe emission vehicles. With a long-term growth commitment in India, we have pledged an expenditure of $500 million.” VinFast is currently setting up an electric vehicle manufacturing facility in Tamil Nadu. It plans to manufacture electric SUVs locally.

The new EV policy is seen as an opportunity for global EV brands like Tesla to launch in India. In fact, Tesla has been the most active among global brands to lobby for a lower EV import duty in India. The efforts, despite Indian EV manufacturers like Tata Motors demanding level-playing field for all, bore fruits finally. Tata Motors is yet to come out with an official statement on the new policy. However, the Centre has put certain conditions that will help to promote local manufacturing as well as bring in foreign carmakers to turn India into a new global EV hub.

First Published Date: 18 Mar 2024, 16:29 PM IST






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Ola Electric sells more than 30,000 electric scooters in December

by with No Comment Electric vehicles cars

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By: HT Auto Desk
| Updated on: 01 Jan 2024, 16:57 PM

Ola Electric sells S1 Pro, S1 Air and S1X Plus electric scooters in India.

Ola S1 Air Review
Ola Electric sells S1 Pro, S1 Air and S1X Plus electric scooters in India.

Ola Electric on Monday announced that it sold 30,219 electric scooters across India in December 2023. The ride-hailing platform turned into an EV manufacturer also claimed that it captured 40 per cent market share in the Indian electric two-wheeler segment. Ola Electric further claimed that December 2023 witnessed its highest-ever monthly registrations.

The electric two-wheeler manufacturer has claimed in an official release that it registered a whopping 74 per cent sales growth in December 2023, as compared to the same month a year ago. Also, the company claims to have recorded 68 per cent growth in the last quarter ending in December 2023 with 83,963 units, compared to the October-December quarter of 2022. Also, the EV manufacturer claims to have sold a total of 2.65 lakh units of electric scooters in 2023.

Ola Electric further claimed that it crossed another milestone of becoming the first company in the industry to produce 400,000 electric scooters in just two years. Speaking about the sales performance, Anshul Khandelwal, Chief Marketing Officer of Ola Electric, said that its ‘December to Remember’ campaign was a massive success bringing thousands of customers under the EV fold. “We believe that we have continued our market leadership for yet another quarter on the back of our strong product lineup comprising the S1 Pro, S1 Air, and the S1 X+. Our ‘December to Remember’ campaign has been a massive success, bringing thousands more under the EV fold,” he added.

Ola Electric currently has five different electric scooters on offer across variants and different battery options. It sells models like S1 Pro, S1 Air and S1X Plus. Priced at ₹147,499 (ex-showroom), S1 Pro is the company’s flagship premium EV scooter while S1 Air is available at ₹119,999 (ex-showroom), and it is the band’s most affordable EV.

First Published Date: 01 Jan 2024, 16:57 PM IST

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Ola Electric slashes sales targets ahead of IPO launch, say sources

by with No Comment Electric vehicles cars

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India’s Ola Electric has slashed its sales goals for 2023-2025 by more than half and delayed its target of achieving profits by a year, after reduced government incentives pushed up e-scooter prices, according to a document and two sources with direct knowledge of the company’s finances.

By: Reuters
| Updated on: 06 Dec 2023, 16:42 PM

Ola Electric FutureFactory
Ola Electric, India’s largest electric two-wheeler manufacturer, is planning to cut down its sales targets ahead of its IPO launch.

The scaling back of Ola’s targets comes ahead of its $700 million stock market debut plan, even though the SoftBank-backed company, which likens itself to Tesla in the West, continues to lead the small yet fast growing e-scooter market. In a surprise move in May, India’s government cut cash incentives available for e-scooter buyers without giving an explanation. Ola’s CEO Bhavish Aggarwal at the time said the reduced incentive would be a “short-term blip” for sales, and the company said the move would “have no impact on volumes”.

A document seen by Reuters with Ola’s latest financial projections shows it now expects to record 300,000 e-scooter sales in the ongoing fiscal year to March 2024, two-thirds lower than the earlier goal of 882,000 which Reuters reported in July.

The revenue target for the ongoing fiscal year period is now $591 million, versus the earlier goal of $1.55 billion – a cut of about 60%, according to the internal document.

In a statement, Ola did not acknowledge the document or comment on the cuts to internal forecasts. It said future financial targets were “yet to be verified”.

“This is completely confidential information of the company,” Ola said.

Also Read : Tesla on two wheels? Ola Electric faces after-sales service challenges as demands surge for EVs in India

The targets have been lowered because of the government’s lower subsidy, said two sources with direct knowledge of the company’s finances, who declined to be named citing confidentiality.

“The new numbers have been toned down so the company is able to meet or exceed them … that is what investors want to see,” said one of the sources.

EV Goals

While Ola is launching new scooters, parts of its nationwide network of over 400 service hubs which maintain and repair its EVs are showing signs of strain after a surge in sales, Reuters reported last month.

India e-scooters sales nearly tripled to over 700,000 during 2022-23 versus the previous year, with Ola a market leader, but the sales were still a fraction of 15 million plus two-wheelers sold in the country.

Prime Minister Narendra Modi wants 70% of all new two-wheeler sales to be electric by 2030. India now offers 15% of the price before tax as incentives for e-scooters, compared with 40% earlier, leading to higher prices.

Before the government incentive cuts, Ola, still loss-making, was expecting to record its first operating profit of $220 million in the ongoing 2023-24 fiscal year. The revised targets in the document show it will record an operating loss of $92 million this year, and a profit of $111 million next year.

Sales will also rise but at a far slower pace than earlier predicted.

Ola will sell 900,000 units in 2024-25 and 2.3 million units in 2025-26, the new document showed. Those targets are 60% and 21% lower than earlier estimates when incentives were in place.

On Saturday, Ola’s Aggarwal slashed prices of his entry-level e-scooter by about 20% to around $1,100 to boost their appeal and bring more people into the EV fold, adding that lower government incentives were not a worry.

“People had feared the e-scooter industry will be hit due to government incentive cuts. Industry has more than recovered,” Aggarwal said.

First Published Date: 06 Dec 2023, 16:42 PM IST

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Ola S1 Pro Gen2 electric scooter deliveries begin in India

by with No Comment Electric vehicles cars

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Ola Electric has announced commencing deliveries of the S1 Pro Gen2 electric scooter in India. The Ola S1 Pro Gen2 was launched in August this year for ₹1.48 lakh (ex-showroom, India) and received major changes including a comprehensively updated chassis, revised motor and battery pack, as well as new tech onboard. Ola Electric says deliveries of the S1 Pro Gen2 have begun in over 100 cities with more markets to follow soon.

By: Sameer Fayaz Contractor
| Updated on: 13 Oct 2023, 19:05 PM

Ola S1 Pro Gen2 deliveries
Ola Electric has commenced deliveries of the Gen2 S1 Pro in 100 markets with more to follow soon

Upgrades to the Ola S1 Pro Gen2 electric scooter include a frame that’s lighter in weight and a flat floorboard. The e-scooter also gets telescopic front forks instead of the monoshock unit seen on the Gen1 model. The mid-drive motor is now more powerful at 11 kW (14.7 bhp) and promises a higher top speed of 120 kmph. The e-scooter also accelerates faster from 0-40 kmph in 2.6 seconds.

Also Read : Gen2 Ola S1 Pro first impressions: Significant updates for Ola’s flagship

The Gen2 Ola S1 Pro is based on a heavily redesigned platform along with a new and more powerful electric motor and battery pack
The Gen2 Ola S1 Pro is based on a heavily redesigned platform along with a new and more powerful electric motor and battery pack

Compared to the Gen1 model, the new Ola S1 Pro Gen2 is about 6 kg lighter, which along with the improved battery pack has helped improve the claimed range on the scooter to 195 km on a single charge. The new S1 Pro has also received redesigned alloy wheels and a utilitarian single-piece grab rail, while the boot space shrunk by 2 litres and now stands at 34 litres. The e-scooter is available in five colours – Jet Black, Matt White, Stellar, Midnight Blue, and Amethyst.

Commenting on the commencement of deliveries, an Ola spokesperson said, “We are extremely delighted to start the deliveries of our flagship scooter S1 Pro Gen 2. With the best specs, and cutting-edge technology, the new S1 Pro is one of the most advanced scooters in the country. Building on the success of the S1 Pro Gen 1, we are confident that the S1 Pro Gen 2 will play a pivotal role in accelerating #EndICEAge in the segment.”

Potential customers can book the Ola S1 Pro Gen2 via the company’s app or website. Customers can also check out the e-scooter in person at over 1,000 experience centres across the country. We rode the S1 Pro Gen2 earlier this year and while it was impressive for all the upgrades on offer, the electric scooter did lose on the finesse expected from Ola’s flagship offering.

First Published Date: 13 Oct 2023, 19:05 PM IST

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Ola Electric joins hands with MotoGP for India race, electrifies BIC track

by with No Comment Electric vehicles cars

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Ola Electric’s scooters have been spotted on the Buddh International Circuit track ahead of the upcoming MotoGP Bharat 2023, scheduled between September 22 and 24, 2023. Also, three-time MotoGP world champion and the safety advisor for the upcoming event, Loris Capriossi was seen taking the Ola electric scooter for a spin on the BIC track. The electric vehicle manufacturer has posted several images on social media of its scooters on the BIC tracks. The EV company is the industry partner of the event.

By: HT Auto Desk
| Updated on: 20 Sep 2023, 13:31 PM

Loris Capriossi with Ola S1
Former world champion Loris Capriossi takes Ola electric scooter for a spin on BIC tracks

Ola Electric is expected to showcase its Diamondhead electric motorcycle at the upcoming MotoGP Bharat event. The Diamondhead is the superbike concept that the EV manufacturer revealed on August 15 this year. This futuristic sportsbike is slated to launch within a few years as part of Ola Electric’s range of electric motorcycles, which were showcased in concept forms in August.

Also Read : Ola Electric trademarks M1 Cruiser, M1 Adventure & M1 Cyber Racer e-motorcycle names

Watch: Ola Electric motorcycle concepts breaks cover | To launch in 2024

The Ola Diamondhead comes with a diamond-shaped panel at the front, which paved the way for the nomenclature. The diamond panel gets a sleek LED strip, while the actual LED headlamp sits beneath the beak. The concept sportsbike was showcased as a semi-faired model.

The pure electric Ola sportsbike gets disc brakes on both front and rear wheels, while the rear wheel comes covered in order to achieve better aerodynamic efficiency. Another exciting fact about this bike is that the front suspension looks completely unconventional as it is positioned almost parallel to the ground. Other design elements of the Ola Diamondhead include a sleek LED strip at the tip of the tail section acting as a taillight.

Besides the Ola Diamondhead, Ola Electric is also expected to showcase its other electric motorcycle concepts at the event. The other models include a cruiser, a roadster and an adventure motorcycle, which all were showcased in August this year.

First Published Date: 20 Sep 2023, 13:31 PM IST

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Gen2 Ola S1 Pro first impressions: Significant updates for Ola’s flagship

by with No Comment Electric vehicles cars

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Ola Electric invited HT Auto to its FutureFactory in Tamil Nadu to sample the second-generation S1 Pro. The electric scooter has seen massive upgrades since it was first revealed in August 2021, only this time the upgrades extend to the hardware apart from the numerous over-the-air (OTA) revisions that the model received over the years.

By: Sameer Fayaz Contractor
| Updated on: 16 Aug 2023, 17:14 PM

The Gen2 Ola S1 Pro is based on a heavily redesigned platform along with a new and more powerful electric motor and battery pack

The Gen2 Ola S1 Pro is now underpinned by a new platform and gets a more powerful motor and safer battery pack. Ola says that these changes were necessary as an evolutionary step in the product’s lifecycle, determined by functionality, costs and overall user experience. We had a brief ride astride the Gen2 Ola S1 Pro and here are our quick impressions of the same.

Also Read : Gen2 Ola S1 Pro e-scooter launched with upgrades, priced at ₹1.47 lakh

The Gen2 platform is ligther, stiffer and stronger than before. It also makes way for a double-sided swingarm on the new S1 Pro
The Gen2 platform is ligther, stiffer and stronger than before. It also makes way for a double-sided swingarm on the new S1 Pro

Gen2 Ola S1 Pro: What’s changed?

The Gen2 Ola S1 Pro has moved up to the new platform that now underpins the Ola range including the S1 Air and the all-new S1X. The new chassis has moved from a tubular frame to a hybrid architecture with a redesigned rear subframe. It uses 70 per cent fewer parts than before, which translates to 14 per cent lighter weight on the frame itself. The new frame also makes way for a flat floorboard as we saw on the S1 Air.

Ola has also moved to a double-sided swingarm at the rear instead of a single-sided unit on the Gen1 version. The panel covers have been dropped on either side. The result is a swingarm with exposed welds and houses the single-shock absorber at the rear, all of which are visible to the eye and look rather unfinished than they did on the Gen1 S1 Pro.

The single-sided front fork has been replaced by telescopic forks on the Gen2 S1 Pro. These are said to offer the same rigidity as the older model while being more cost-effective
The single-sided front fork has been replaced by telescopic forks on the Gen2 S1 Pro. These are said to offer the same rigidity as the older model while being more cost-effective

The Gen2 S1 Pro has also moved to the conventional telescopic front forks as against the single-sided front fork design seen on the Gen1 version. This is a big step for the company considering it claimed the robustness of its single-sided fork design over the last few years. Instead, the telescopic forks are now standard across the lineup. Ola says the new forks are not only cost-effective but also provide the same results as the front monoshock did previously in terms of rigidity.

On the design front, the S1 Pro Gen2 gets subtle changes. The headlamp design is the same but now houses new internals. The LED taillight is slimmer and gets the smoked treatment. The split grab rails make way for the single-piece unit from the S1 Air that looks built to cost. Lastly, the multi-spoke alloy wheels have been replaced with new 5-spoke alloy wheels, which we are told are lighter and more cost-effective.

Also Read : Planning to buy Ola S1 Air? Key features you should know

Under-seat storage capacity is down by 2 litres to 34 litres but it's still an ample-sized unit. The new utilitarian single-piece grab rail is shared with the S1 Air
Under-seat storage capacity is down by 2 litres to 34 litres but it’s still an ample-sized unit. The new utilitarian single-piece grab rail is shared with the S1 Air

Furthermore, the revised design has shrunk the under-seat storage capacity by two litres, which now stands at 34 litres. It’s still a sizeable space with a flat bottom and will store everything from a portable charger to grocery bags, two half-face helmets and more. A full-size helmet still won’t fit here. The Gen2 model sits taller by 5 mm at 805 mm, while the ground clearance is reduced to 160 mm, down by 3 mm. Other cycle parts remain the same including the disc brakes at either end from ByBre and the horizontally-stacked rear single-shock.

The new S1 Pro now uses a centralised computing system. This brings a shorter wiring harness across the vehicle integrating all the critical functions and reducing the weight by 8 per cent and energy consumption by 25 per cent. This should also make the vehicle more reliable with most functions. Overall, the Gen2 S1 Pro is about 25 per cent cheaper to manufacture.

The mid-drive motor is now 30% more powerful, making the S1 Pro one of the fastest electric scooters on sale at the moment
The mid-drive motor is now 30% more powerful, making the S1 Pro one of the fastest electric scooters on sale at the moment

Gen2 Ola S1 Pro: New powertrain

The Gen2 Ola S1 Pro utilises a redesigned electric motor that integrates the Motor Control Unit (MCU). The result is a lighter motor overall, which is also 30 per cent more powerful than before. Peak power stands at 11 kW (14.7 bhp) with continuous output at 5 kW (6.7 bhp), as against a peak of 8.5 kW (11.3 bhp) and continuous power of 5.5 kW (7.3 bhp). The end result is a higher top speed of 120 kmph, as against 115 kmph on the Gen1 S1 Pro, while 0-40 kmph comes up in just 2.6 seconds, 0.3 seconds faster than the predecessor.

Also Read : Ola S1 Air first ride review: Big on features, low on budget

The Gen2 battery pack uses 33 per cent fewer parts than before and gets an upgraded Battery Management System (BMS) for improved thermal performance. Still a 4 kWh unit, it’s been redesigned for better insulation and wiring. The changes help make it more efficient with a claimed range of 195 km on a single charge, as opposed to 181 km on the Gen1 model. We’ll need to spend some more time with the new S1 Pro to determine its range in real-world conditions.

The Gen2 Ola S1 Pro feels faster, especially in the Hyper mode, but throttle input isn't the most seamless
The Gen2 Ola S1 Pro feels faster, especially in the Hyper mode, but throttle input isn’t the most seamless

Gen2 Ola S1 Pro: Riding experience

The overall changes have helped shave off 5 kg from the Gen2 S1 Pro, which now has a kerb weight of 116 kg. On the move, the electric scooter feels faster and there’s a notable difference in acceleration, especially in the Hyper mode. In our brief ride within the factory premises, the Gen2 S1 Pro impressed with its acceleration and there’s a certain excitement whenever you twist the throttle. It’s not clear though how long can we hold on to the top speed or sustain high-speed acceleration without heating up the battery pack.

Some of the older issues also crop up. It’s not as smooth as some of its rivals and the e-scooter tends to accelerate with a lag of a few milliseconds after giving the input. The motor cuts off the moment you brake, which will make riding in crawling traffic a problem. That said, braking remains strong with little and the ride quality was gentle for the most part. The riding posture remains comfortable as ever and is a highlight of the scooter.

Ola has also managed to retain the 7-inch touchscreen digital console, which is shared with the S1 Air. The unit gets a lower resolution now at 800×480 but it does not largely hamper your viewing experience. However, fit and finish still remain key problematic areas with the S1 Pro. From panel gaps to exposed welds, there’s plenty Ola can do to make the model better finished before it reaches customers.

Also Read : Ola S1X launched in two variants: Price, features, range compared

The Gen2 Ola S1 Pro receives substantial changes over its predecessor and still remains attractively priced despite the increment of <span class=₹7,500 ” src = “https://images.hindustantimes.com/auto/img/static/1x1_img.gif” onclick=”sendGa(this);” title=”The Gen2 Ola S1 Pro receives substantial changes over its predecessor and still remains attractively priced despite the increment of ₹7,500 ” style=”width:auto;” >
The Gen2 Ola S1 Pro receives substantial changes over its predecessor and still remains attractively priced despite the increment of ₹7,500

Gen2 Ola S1 Pro: Should you buy?

Priced at ₹1.47 (ex-showroom), the Gen2 Ola S1 Pro gets significant upgrades that make it more capable in the segment. The new offering is about ₹7,500 more expensive than its predecessor, which is marginal considering the bulk of changes. If you’ve been eyeing to bring the S1 Pro home, this version does much better on most counts even though cost-cutting remains evident. A more detailed review will come up soon once we get the e-scooter in our hands.

First Published Date: 16 Aug 2023, 17:14 PM IST

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