Ola Electric crosses 500 crore in revenue, aims to bolster product portfolio

  • Ola Electric highlights it continues to streamline manufacturing process and has a strong order bank for its S1 Pro electric scooter.
File photo: Ola Electric S1 Pro scooters parked at the company factory in Tamil Nadu.
File photo: Ola Electric S1 Pro scooters parked at the company factory in Tamil Nadu.

Ola Electric announced on Friday that it has booked over 500 crore revenue in the first two months of FY 22-23 and that it remains on course to cross the target of $1 billion by the end of the year. Underlining deliveries of S1 Pro electric scooter to over 50,000 customers across the country and with eyes now on the S1 electric scooter as its second model, the company states it is confident of its march ahead.

Ola Electric has been ramping up its production capability at its plant in Tamil Nadu while also strengthening its delivery model. The company does not have any dealerships and while there have been complaints about delivery schedules from several customers who have reserved a unit through online channel, the company continues to point to its ever-increasing capabilities. “As customers’ confidence in EV continues to grow, the future forecast looks even stronger for Ola Electric," a company spokesperson said in a press statement issued by Ola Electric. “We have also been able to streamline our manufacturing capacity at the Ola Futurefactory in Krishnagiri to 1,000 units per day. "We have a strong order pipeline and will be ramping up further."

Also check these Bikes

Find more Bikes
Ola Electric S1 Air (HT Auto photo)
3 kWh 90 kmph 101 km
₹ 1.20 Lakhs
Compare
View Offers
Ola Electric S1 X (HT Auto photo)
3 kWh 90 kmph 151 km
₹ 89,999 - 1.10 Lakhs
Compare
View Offers
Ola Electric S1 Pro (HT Auto photo)
4 kWh 120 kmph 195 km
₹ 1.40 - 1.47 Lakhs
Compare
View Offers
Revolt Motors Rv400 Brz (HT Auto photo)
3.24 kWh 85 kmph 150 km
₹ 1.38 Lakhs
Compare
Tvs Iqube Electric (HT Auto photo)
4.56 kWh 78 kmph 100 km
₹ 1.17 - 1.23 Lakhs
Compare
View Offers
Hero Electric Ae-47 E-bike (HT Auto photo)
UPCOMING
3.5 kWh 85 Kmph 160 Km
₹ 1 Lakhs
View Details

But while Ola Electric continues to iron out its manufacturing and delivery processes, it is also looking at widening its scope of play with plans of rolling out an electric car in the times to come. The company has also said in the past that it is developing autonomous driving technology.

First Published Date: 24 Jun 2022, 17:44 PM IST
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.