Ola Electric is gearing up for an exciting expansion into the commercial vehicle market with the upcoming launch of its electric auto-rickshaw, named Raahi. This move is a significant step in Ola’s broader strategy to diversify its electric vehicle (EV) portfolio and meet the growing demand for eco-friendly transportation solutions in urban India.

Raahi E-Auto: A New Era in Urban Transportation

Raahi will compete with established brands like Piaggio’s Ape e-city, Bajaj RE, and Mahindra’s Treo. It promises to be a game-changer in the commercial vehicle space, offering a cleaner, more sustainable alternative to traditional auto-rickshaws that run on fossil fuels. With Raahi, Ola aims to address the pressing need for zero-emission vehicles in Indian cities, which are grappling with air pollution and rising fuel costs.

The Raahi e-auto comes with a range of features designed to appeal to fleet operators and individual owners alike. It boasts a powerful, long-lasting battery that can be quickly charged, making it an ideal choice for busy streets and daily commutes. In addition, it promises lower operational costs, helping drivers and business owners save money in the long term. By introducing Raahi, Ola is paving the way for a more sustainable and cost-efficient mode of transportation for India’s growing urban population.

Ola’s Gigafactory and IPO Plans

The launch of Raahi is also part of Ola Electric’s larger vision to expand its manufacturing capabilities. The company is investing heavily in its gigafactory project, which will significantly increase production capacity and help meet the increasing demand for electric vehicles. This initiative is crucial as Ola Electric prepares for its Initial Public Offering (IPO), which is expected to raise Rs 5,000 crore. The funds raised will be used to accelerate Ola’s growth, enhance vehicle production, and boost R&D efforts.

Price Cuts and Record Sales in the Scooter Segment

Alongside the Raahi launch, Ola Electric has also made strategic moves to remain competitive in the electric scooter market. In February, the company announced price reductions for its popular S1 X+, S1 Air, and S1 Pro models. For instance, the S1 Pro’s price was slashed by Rs 17,500, bringing it down to Rs 130,000. These price cuts have significantly boosted sales, with Ola recording approximately 35,000 units sold in February alone—a year-on-year growth of nearly 100%.

Looking Ahead: Ola’s Vision for the EV Future

Ola Electric is not only transforming India’s electric vehicle landscape but is also poised to become a leader in the global EV market. With the launch of Raahi and plans for a gigafactory, the company is on track to revolutionize the way commercial vehicles operate in India. As the company prepares for its IPO and continues to innovate, Ola Electric is setting itself up for sustained growth and success in the rapidly expanding electric vehicle market.

Article By
Prashant Sharma

Vidyut has announced a partnership with JSW MG Motor India to introduce an innovative and affordable electric vehicle (EV) ownership program. This program is based on a Battery-as-a-Service (BaaS) model, aimed at making EV ownership more accessible by reducing costs through a battery rental scheme.

Under the BaaS model, customers can purchase an EV without the battery, significantly lowering the upfront cost. Instead of paying for the battery upfront, owners rent it on a pay-as-you-go basis, paying only when the vehicle is in use. Rental fees start at INR 2.5 per kilometre, potentially reducing driving expenses by 40% compared to traditional internal combustion engine (ICE) vehicles.

The program offers flexible financing terms between 3 to 5 years. At the end of the term, customers can choose to purchase the battery or continue renting it. Vidyut also allows users to exit the rental agreement anytime by paying the remaining value of the battery.

Xitij Kothi, Co-Founder of Vidyut, explained that the model shifts the perception of the battery from being an asset to a fuel-like cost, incurred only when the vehicle is used. This innovative approach has already seen success in the commercial EV sector through partnerships with Tata Motors and Mahindra.

MG EV customers will benefit from an assured 60% buyback value after three years of ownership, providing additional confidence in switching to electric vehicles. Vidyut aims to expand its successful commercial vehicle model to the personal EV market through this new collaboration.

With this initiative, Vidyut and JSW MG Motor India are working towards making EVs a more affordable and practical choice for Indian consumers.
Article By
Prashant Sharma