Prices of 'Ola Electric' bikes will compete with traditional vehicles

Mumbai / Correspondent

Ola Electric Mobility's new S1 electric two-wheeler will be able to compete with the prices of traditional two-wheelers. With that in mind, the price of these vehicles has been fixed at Rs 99,999 ($1,348). However, the actual cost of these vehicles will vary according to the amount of subsidy from each state.

'Ola S1' electric two-wheeler made its debut in the Indian market on the occasion of Indian Independence Day. Once fully charged, the bike will be able to travel 121 km. The company said it would start delivering vehicles to registered customers in 1,000 cities in October, while exporting vehicles to Asia, Latin America and Europe would begin in the next few months.

"Our goal is to have every bike sold in India should be electric bike by 2025," Bhavish Agarwal, president and chief executive officer of Ola Group, told reporters here. Our goal is to produce 50 per cent of the world's electric two-wheelers in India. "Our goal is to make India a world leader in electric vehicle manufacturing," he said.

Affordability will be a key factor in competing with conventional fuel vehicles. In India, petrol-powered two-wheelers cost an average of $ 1,000. If it is possible for electric two-wheeler manufacturers to keep prices close to this, electric vehicles will be able to attract more consumers than conventional vehicles, based on savings in fuel costs and minimal maintenance costs.