According to reports, Ola electric is planning to launch electric car by 2024, coinciding with the celebrations of India’s 75 years of independence.

It also introduced a less than one lakh variant of its electric scooter.

Bhavish Aggarwal, cofounder and chief executive Bhavish Aggarwal, Ola says, “So far electric mobility has been defined by the West and to a certain extent China. India has a very different requirement. A majority of the world has context, dynamics, weather which is similar to India and India can be the leader. For that, as an industry, we need to have a long-term vision, and the government has done a lot to encourage the PLI scheme.”

According to reports, Ola’s ambitious electric-car project will see it building a new manufacturing facility next to its two-wheeler factory in Tamil Nadu.

“Ola plans to debut its four-wheeler EV by the summer of 2024 and claims its car will have the ability to go from 0-100 km/hour in four seconds and a range of more than 500 km per charge. The company’s maiden car will be a premium offering and the "fastest and sportiest car" India has ever seen, adds Aggarwal.

The company aims to manufacture one million cars a year by 2026.

Aggarwal says, “Both are very different businesses. Ola is a ride-sharing company, we are leaders in India, we are doing very well in India, we are very profitable, it is a very well-run business. We have professional teams running the company. We will share in a couple of months strategies about the ride-hailing.”