Ola Electric is preparing to enter the electric motorcycle market with a launch on August 15, introducing multiple new products. CEO Bhavish Aggarwal unveiled a teaser that highlights the bike’s design, featuring a twin-pod LED headlight and unique rearview mirrors. The launch marks Ola’s expansion into the electric motorcycle segment in India.
The teaser from Ola Electric reveals some key design aspects of their upcoming electric motorcycle. The LED headlight, similar to the S1 e-scooter but with differences, includes an LED strip at the top and vertical strips beside the LED bulbs. The bike features angular tank shrouds, giving it a street bike look, and has an upright single-piece handlebar.
As per reports, Ola is set to introduce Sankalp 2024, their most ambitious annual event to date, dedicated to building the India of tomorrow. This significant event is scheduled to take place on August 15.
Ola Electric currently offers several products for sale in India, primarily focusing on electric scooters. The company's flagship model, the Ola S1 Pro, is a high-performance electric scooter that features a sleek design, impressive range, and advanced technology. Additionally, Ola Electric offers the Ola S1, a slightly more affordable variant with a lower range and fewer premium features, catering to a broader customer base.
OLA CEO Bhavish Aggarwal | Representative Image
In other news, the company's IPO is also in the spotlight, as it aims to raise significant capital to fuel its growth and development plans. This move is part of Ola Electric's broader strategy to strengthen its position in the rapidly growing EV market in India, focusing on innovation and sustainability. Additionally, Ola Electric is actively working on expanding its charging infrastructure and enhancing its manufacturing capabilities to meet the increasing demand for electric vehicles.
The electric vehicle maker IPO, valued at Rs 6,145.56 crore, received bids for 49,43,85,840 shares against the offered 46,51,59,451 equity shares, has achieved an overall subscription of 1.06 times. The EV manufacturer, IPO opened for subscription on August 2, 2024 and is scheduled to close on August 6, 2024.
