The manufacturer and ride-hailing company is focused on advanced stages of design and benefiting from the sharing of some technology deployed in its two-wheeler products, Kumar said in an interview in Bengaluru on Wednesday.
February 09, 2023 / 06:20 AM IST
An Ola electric scooter during the launch at the Ola Campus in Bengaluru, India, on Sunday, Aug. 15, 2021. The high-profile Ola founder Bhavish Aggarwal hopes to make 10 million vehicles annually or 15% of the world?s e-scooters by the summer of 2022 before selling abroad as well
Electric-scooter maker Ola Electric Mobility Pvt. is on track to deliver its first four-wheel vehicle in the second half of 2024, according to Chief Financial Officer G.R. Arun Kumar.
The manufacturer and ride-hailing company is focused on advanced stages of design and benefiting from the sharing of some technology deployed in its two-wheeler products, Kumar said in an interview in Bengaluru on Wednesday.
“Software, safety systems, electronics, cells, the drive train — a lot of it is common,” Kumar said on the sidelines of the India Energy Week forum. “We think we’re 30%-40% there.”
Last year, Ola’s founder Bhavish Aggarwal said the company aimed to price its first car at less than $ 50,000, manufacturing components such as lithium-ion cells and batteries in-house to lower costs. Ola aims to compete with the likes of Tesla Inc., Hyundai Motor Co. and local rivals such as Tata Group in India’s electric-vehicle market, which consultancy RBSA Advisors forecasts to be worth more than $ 150 billion by 2030.
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