India’s EV (Electric Vehicle) market is currently in its ‘infancy’ stage and amidst the transformation taken up for the country, the change in the scenario is yet to happen. On India’s 76th Independence Day, Ola Electric revealed its much-awaited plans with respect to electric vehicles. The company’s founder and CEO Bhavish Aggarwal announced that Ola is gearing up to launch a car with a range of 500 kilometres and that it will be the “sportiest car built in India.” The car which is mentioned by the CEO is scheduled for launch in the year 2024.
Ola also announced an S1 scooter as well as a new battery.
— Bhavish Aggarwal (@bhash) August 15, 2022
Mission Electric 2022: What is in store?
Ola has already ventured into the EV markets with their sleek, much-talked-about EV scooters that hit the Indian roads last year. Now, during the launch event, the CEO of the company, ‘relaunches’ the base model S1 electric scooter with the starting price of Rs 99,999. Built on the same platform as the S1 Pro, the S1 scooter will appear largely similar to that of the flagship. The S1 will come with a 3 kWh battery that should give the scooter an ARAI-certified range of 131 kilometres. Its top speed will cap out at 95 kilometres per hour. Like the S1 Pro, the S1 also comes with the same Move OS and hence, the Ola S1 will also come with many of the software features like music, navigation and reverse mode etc.
According to the EV entrepreneur, the EV’s penetration was 1% before Ola unveiled its Ola S1 Pro scooters and currently, it stands at 5%. “Since the last year, EVs have been at the centre of transforming personal mobility. We believe that India needs to become the global epicentre of the EV revolution and command 25% of the world’s automotive market,” the CEO said. He also claimed that the EV’s penetration was 1% before Ola unveiled its Ola S1 Pro scooters and currently it stands at 5%. With the future economic growth prospects looking promising for India, the automotive industry for the country would witness demand for 20 million – four-wheelers and 50 million – two-wheelers each year.
Electric Car to hit the roads by 2024
CEO Bhavish Agarwal created much hype about the much-awaited electric car even before its announcement and finally, revealed the details during the live stream on the occasion of India’s 76th Independence Day. According to him, the company would launch a car with a range of 500 kilometres which will be the “sportiest car built in India.” He says, “Our car is going to be the fastest car in the country. 0 to 100 within 4 seconds, it will have a range of more than 500 kilometres per charge.” These are the only two specs that are announced by the company about the electric car. Tata’s Nexon EV claims a range of 437 kilometres and the EV car goes from 0 to 100 kilometres per hour in about 9.4 seconds.
The new car will be manufactured at Ola’s future factory in Tamil Nadu, which will be expanded in order to accommodate new manufacturing capabilities. Along with the car and the scooter, Ola says it will also manufacture its own indigenously developed electric cells at the same facility.
EVs – a new concept? Maybe not!
If you think that EVs are a new thought concept, let us break the bubble! It is difficult to pinpoint when exactly the first Electric car was invented, as it took a series of innovations, changes, and remodelling to understand the making of such a vehicle a reality. In the 1900s electric vehicles accounted for one in three all vehicles. According to the US Department of Energy, American chemist William Morrison developed an electric car in 1890. At the turn of the 20th century, when horses were still a popular mode of transportation, cars were becoming more popular by the day. With the breakthrough of the Ford Model T in 1908, the automotive world changed forever. Eventually, technical glitches and the lower cost of the ICE (Internal Combustion Engine) and fuel convenience and other technological developments led to the eventual demise of the electric vehicle.
But now, when the future is here, countries are witnessing a rise in EV adoption. The number of Electric vehicles hitting the Indian roads has been on a steady rise since the year 2020. A total of 4.19 lakh electric vehicles have been sold so are in 2022, compared to 3.11 lakhs in 2021 and 1.19 lakhs in 2022, according to the data shared by the Minister of State for Heavy Industries Krishan Pal Gurjar with Parliament. However, the minister did also point out that only 10 lakh electric vehicles were sold in the country in the last four years, compared to over 6.3 crore non-electric vehicles.