Ola Electric announces international expansion plans

The EV manufacturing unicorn, Ola Electric, has announced plans to enter international markets, starting with Nepal. Following this, the Bhavish Aggarwal-led company plans to enter LATAM (Latin America), ASEAN (Association of Southeast Asian Nations) and EU in the next phase, increasing the company’s presence in up to five international markets. 

The company has signed an MoU with CG Motors in Nepal, partnering with them as local distributor for its Ola scooters (S1 and S1 Pro). The scooters will be available in Nepal starting next quarter.

Bhavish Aggarwal, Founder and CEO, Ola, said, “The global EV revolution so far has been limited to the West and to China. To truly take the EV revolution to a human scale, India will have to be the epicenter of change. Ola is committed to creating the EV paradigm for the rest of the world by building half of the vehicles that the world needs in India. Our international expansion not only means that we will as a company be able to serve customers in these similar regions, but it is also testament to the fact that India will lead the EV revolution for the world.”

Ola Electric, last valued at $5 billion, has recently unveiled an ambitious 4W project with the first public unveiling of a car. Ola Electric has been selected by the government under the ₹80,000 crore cell PLI scheme, receiving the maximum capacity of 20 GWh for its bid in March. In addition, it has also won the PLI for manufacturing EVs.

Offline stores

In the seven months after its e-scooter launch, Ola sold 70,000 units of its electric scooters even as it has battled consumer backlash for late deliveries, low scooter range, and EV fire-related incidents. Last month, Ola again opened the online booking window for its electric scooters, but the lukewarm response from customers pushed the EV unicorn to now open offline stores. Earlier this week, the company said it has opened 20 experience stores and plans to open over 200 by March 2023. 

Also, Ola recently laid off 200 engineers as part of internal company restructuring, which is 10 per cent of the total engineers employed by Ola at a group level. According to Ola, this restructuring is done to “centralise operations, minimise redundancy, and build a strong lateral structure that strengthens relevant roles and functions.”

The mobility company has increased focus on non-software engineering domains as it builds engineering and R&D capabilities across vehicle, cell , battery, manufacturing and automation, autonomous engineering streams and others.

Published on

September 22, 2022

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