Ola Electric is gearing up to deliver the first batch of S1 and S1 Pro electric scooters in the timeline of December 15 to December 30. The indigenous manufacturer is informing its customers via email which states, “Due to the ongoing global shortage of chipsets and electronic parts, there are some unavoidable delays to your Ola S1 delivery. We apologise for this delay and assure you that we are ramping up production as fast as we can so you can get your Ola S1 at the earliest.”
Meanwhile, Ola Electric kicked off test rides in Bangalore, Delhi, Ahmedabad, and Kolkata on the 10th of November and then opened up 5 more cities- Chennai, Hyderabad, Kochi, Mumbai, and Pune on 19th November. Ola also announced to commence its test rides in 11 more cities including Surat, Thiruvananthapuram, Kozhikode, Visakhapatnam, Vijayawada, Coimbatore, Vadodara, Bhubaneswar, Tiruppur, Jaipur, and Nagpur from 27th November.
Apart from its ongoing business verticals, Ola is also intending to enter the insurance and loan sector as well. The firm, backed by SoftBank Group Corp and Tiger Global Management.
Ola's core ride-hailing unit is also planning to list on stock exchanges soon, for which it raised $500 million from Warburg Pincus and Temasek. Their Initial Public Offering (IPO) listing expected to go live in Q1 2022. Chief Financial Officer Swayam Saurabh and Chief Operating Officer Gaurav Porwal have left the company, and General Counsel Sandeep Chowdhury followed suit. The mass exodus of CXOs from Ola ahead of an expected listing is unsettling.
The company has announced that it is manufacturing nine customised Ola S1 Pro electric scooters for the Netherlands embassy in India on special orders. These nine Ola electric scooters will be used across the three diplomatic missions of the Netherlands in India.
The Ola S1 range of scooters comes in 10 stunning colors, a fluid design, a massive 36L boot space that fits 2 helmets, incredible performance of 0-40 Kmph in just 3 seconds, top speed of 115 Kmph, and a class-leading range of 181 Kilometers for the S1 Pro. With mono-shock, front and rear disc brakes, and the widest tires in the category, they also provide fantastic ride quality. The scooters are being manufactured in India at the Ola Futurefactory and the factory is managed entirely by women. While the S1 variant of Ola electric scooter is priced at ₹1 lakh, the S1 Pro variant is priced at ₹1.30 lakh (ex showroom, before state subsidies).