Electric two wheelers manufacturing company Ola Electric is going to launch its four wheelers Ola electric car next year 2024 in India, says Chief Financial officer GR Arun Kumar.
The company is focusing on advanced design and benefiting from the sharing of some technology deployed in its two wheeler products, Kumar said in an interview in Bengaluru on Wednesday.
” The new electric car will come with new software, strong safety systems, electronics, and a drive train-a lot of it is common,” Kumar said on the sidelines of the India Energy week forum, ” We think we are now 30% to 40% there.”
The company CEO said that the new Ola electric car will come at less than $50,000. So, Ola is working on their own lithium-ion battery cells and other components in house to lower cost.
Ola wants to compete with the already existing electric vehicles companies like Tata, Mahindra, Hyundai and more. The RBSA Advisors forecast it to be worth more than $150 billion by 2030.
Recently Ola announced that they are making a 100 gigawatt hours of battery cell manufacturing capacity by adding local plants.
He said,” we should get to about 10 gigawatt hours in 18 to 24 months and to 20 gigawatt hours in 36 months”.
Also Ola may sell lithium-ion cells to other parties for use in vehicles, grid balancing or energy storage, according to Kumar.
” We’d be very open to selling outside. It’s all contingent on how the demand side shapes up”.
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When Ola electric car will launch?
As per report, Ola electric car may launch next year seconds half of 2024
What is the price of Ola electric car?
The Ola CEO said, the new Ola electric car will come at less than $50,000 in India.