Asked about his plans to enter the electric car market, the Ola co-founder said, “We will be into it in the next two years. I’ll discuss the details as we get closer to the project. 35-year-old Agrawal, whose company includes old guards and heavyweights like Hondahero moto, Bajaj Autohandjob TVS and new like aether and Hero Electric, says that the price drops even further and beats the existing petrol model in states like Delhi, Gujarat. Maharashtra And to Rajasthan with attractive state subsidies for green vehicles and sweeteners like zero registration fee.
“The current two-wheeler companies (current two-wheeler companies) should reject petrol. Consumers have already rejected it,” said Agarwal You As he outlines an aggressive strategy for his company, which has set up a mega factory in Tamil Nadu with an annual capacity of one million units, and plans to increase it to 10 million units (more than market leader Hero Moto). ‘s plan. next two years or so.
Agarwal utters no words as he seeks “only leadership” for his budding but ambitious manufacturing venture, and says Indian companies can take a global lead in green vehicles and their manufacturing. Ola ElectricAgarwal’s automobile manufacturing company, plans to export vehicles to ASEAN countries, Latin America, Africa and even Europe.
Their first vehicle, the S1 scooter, gives a range of 181 km and can do 0-40 kmph in three seconds with a top speed of 115 kmph. It charges to 50% in 18 minutes on a fast-charger, while at home it takes six hours (for a full charge) on a standard charger. Bookings have been “a few lakh” units, and deliveries will be from October.
Asked whether it is ‘old vs new’ in the two-wheeler market, Agarwal says it is not. “I have great respect for the current leaders including Pawan Munjal of Hero Moto. I don’t think it’s the same as old versus new… It’s about being committed to this future of electricity. We are fully committed (and also) calling on existing people to reject petrol and commit completely to electricity. If they do, and if we do our job well, I think by 2025 we can make India a petrol-free market for two wheelers. We can lead the world and make India a global hub of electrics.
“We will be the most profitable company in due course of time,” says Agarwal. “Time will tell. It is Time For investment, and I am putting my money in the form of equity. I want to ask the existing people how much money they are investing?” SoftBank’s support seals aggression and even cash-burn to capture the market.
However, Agarwal’s new venture has challenges. Little is known about the charging infrastructure, and physical retail points and service centers will initially not be in abundance, while product quality and robustness still remains untapped.
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