Ola Electric is developing its first electric vehicle, which will debut on the Indian market around the summer of 2024. The first Ola electric vehicle will likely be a premium crossover, and the business will enter the Indian electric car industry from the top down. Bhavish Aggarwal, the chief executive officer of Ola Electric, said that the brand’s first electric vehicle will cost between Rs. 40 and 50 lakh. Clearly, it will be a luxury product designed to establish the Ola Electric brand before more inexpensive electric vehicles are launched.

Ola’s first electric car will be priced between Rs. 40-50 lakh: CEO Bhavish Aggarwal

Here’s what Bhavish Aggarwal, the Founder-CEO had to tell PTI about the brand’s first electric car,

Ola’s product range will cover Rs 1 lakh (entry two-wheelers) to Rs 40-50 lakh (luxury electric vehicle). The company’s objective is to be a “global leader in mid-size, tiny, and premium electric automobiles fit for India.” The e-car is India’s “fastest and sportiest.” We offer a detailed automotive roadmap. We’ll have low-cost vehicles. In 18 to 24 months, we’ll release a premium automobile. By 2026 or 2027, we want to sell a million automobiles annually across all our goods. Global automakers believe the Indian market isn’t ready for world-class technology, so they offer hand-me-downs. We need an automobile that reflects this brave, self-determined India.

Range of Ola’s first electric vehicle

The estimated range of Ola’s first electric vehicle is between 400 and 500 kilometres, which is sufficient for the majority of consumers. A 0-100 km/h sprint time of fewer than four seconds would place the Ola Electric car in the area of sports cars and make it the quickest vehicle in the sub-Rs. 50 lakh sector. Given the claimed performance figures, Ola Electric’s first electric vehicle has the potential to become a cult vehicle if the quality is maintained and there are no hiccups.

Aggarwal tweet in July 2022 that the Ola electric vehicle will be the most sporty vehicle ever produce in India. The business said on August 15 that the first Ola vehicle will have a 0-100 kph time of less than four seconds, which, if achieved, would be an incredible achievement. In addition, the expectations of purchasers prepared to spend Rs 40-50 lakhs would be far different from those of buyers of an electric scooter, and the corporation would have to pull out all the stops to convince those customers to open their wallets and fork over the cash.

Ola’s first electric priced

Given the high cost of its initial electric vehicle, it seems unlikely that Ola Electric would produce large numbers. Currently, automobiles priced between Rs. 40-50 lakh sell less than 1,000 units each month, with the exception of the Toyota Fortuner, which sells more than 1,000 units per month. Therefore, it is reasonable to estimate that Ola’s initial electric vehicle will produce less than 1,000 units each month. The purpose of Ola’s first electric car is to demonstrate the manufacturer’s skills and offer affluent consumers a taste of India’s superior engineering and manufacturing expertise.