Ola Electric has reportedly halted its electric car launch project for at least two years. The company will now prioritise the development of electric two-wheelers and battery production.
Back in 2022, Ola Electric had teased its first electric car for the Indian market, with plans to launch it by the summer of 2024. Bhavish Aggarwal, Founder of Ola Electric, had envisioned an electric sports car featuring a glass roof and the capability to accelerate from 0 to 100 km/h in under 4 seconds. However, due to the current lack of adequate public charging infrastructure, the project has been postponed for now.
In other news, Bhavish Aggarwal has recently shared a teaser image of what appears to be Ola’s first electric motorcycle. The image reveals a bare chassis equipped with a battery pack and control electronics.
Ola has not yet disclosed the launch timeline for its electric bikes. However, the first model expected to hit the market could be the M1 Cyber Racer (roadster), likely launching by the end of 2024.
Also Read: These Could Be The Name Of Upcoming Ola Motorcycles
In addition to its product development, Ola Electric is preparing to launch its IPO (Initial Public Offering) next month, seeking to raise approximately US$ 660 million. This move is expected to bolster the company’s financial position and support its strategic shift towards two-wheelers.
