Ola Electric, after the recent launch of its S1 X range of EV scooters, has now revealed four EV bike models during its End of ICE Part 1 event on Independence Day, 2023.
Ola Electric- Upcoming Bike Models and Launch Timeline
The four bikes – Ola Cruiser, Ola Roadster, Ola Adventure, and Ola DiamondHead – are slated for launch by the end of 2024. Each model caters to different preferences and riding styles.
- Ola Cruiser: Geared for long-distance rides.
- Ola Roadster: Positioned as a daily commuter.
- Ola Adventure: Tailored for off-road enthusiasts.
- Ola DiamondHead: A super sports bike offering.
Details and Prototypes
During the event, Ola showcased prototypes of the four bikes, but they did not disclose specific specifications.
Ola Electric Recent Developments
This announcement comes shortly after Ola Electric introduced the Ola S1 X electric scooters, along with its new MOVE OS 4 variant and a new generation vehicle platform called Gen 2 for future Ola Electric scooters.
The S1 X+ starts at INR 1.09 Lakh, with the 3 kWh S1 X priced at INR 99,999 and the 2 kWh variant at INR 89,999. Additionally, Ola unveiled Gen 2 variants for Ola S1 Pro and Ola S1 Air scooters, bringing the total new vehicle offerings to nine.
CEO’s Vision and Financial Outlook
During the event, Bhavish Aggarwal, emphasized the bikes’ significance and stated, “The future of motorcycling will be made in India, by Indians for the world.”
Despite these advancements, Ola reported an almost fourfold increase in net loss for the financial year 2021-22 (FY22), reaching INR 784.1 Cr, compared to INR 199.2 Cr in FY21. The FY22 numbers are not directly comparable due to the startup’s scooter deliveries commencing only in December 2021.
With operating revenue at INR 373.4 Cr in FY22, the startup’s financial performance has been a focal point. Despite expectations, reports suggest that the company may not meet its publicly-stated financial goals for FY23.
In the burgeoning EV motorbike sector, Ola joins the ranks of startups such as Ultraviolette, Revolt, Ober, and Tork. On a global scale, the entry into the motorbike market positions Ola Electric to compete with established brands like Yamaha, Harley-Davidson, and BMW.
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