Ola Electric Scooter: Bookings Open For EV At Reservation Price Rs 499

The company has recently raised $100 million in long term debt from Bank of Baroda to close the first phase of development of its factory where it aims to manufacture electric two-wheelers.

Image: Twitter/ @bhash

New Delhi: Now, you can book an electric scooter from Ola Electric. The company has opened its reservations for electric scooter saying that customers can reserve their scooters for a refundable deposit of Rs 499.

Those customers who reserve their scooter on olaelectric.com will also get priority delivery. However, the company is yet to reveal its features and price. It is expected to reveal the specifications in the coming days.

 “With its incredible performance, technology and design along with aggressive pricing, it will help accelerate the transition to sustainable mobility. India has the opportunity and potential to become the world leader in EVs and at Ola, we are proud to lead this charge,” said Bhavish Aggarwal, Chairman & Group CEO, Ola.

The company witnessed unprecedented demand causing techincal issues with the booking process for many interested buyers. Later in a tweet, Aggarwal said, "For those who faced issues in the beginning, apologies! We didn’t anticipate the crazy demand and didn’t plan enough scalability of the website. All fixed now."

The upcoming teaser from Ola Electric has indicated that the e-scooter will offer 'best in segment' features. Also, it is expected to provide the biggest boot space in its segment along with "superior" cornering ability. The e-scooter will also have an app-based key for a 'keyless experience'.

On the driving range, the company informed that the scooter can be charged up to 50 per cent in a matter of 18 minutes using its fast charger which as per the company can provide a driving range of up to 75km.

The company has recently raised $100 million in long-term debt from the Bank of Baroda to close the first phase of development of its factory where it aims to manufacture electric two-wheelers.

The Bhavish Aggarwal-led electric firm is a spinoff company from ride-hailing firm Ola. According to the Moneycontrol report, the company aims to set up a 500-acre factory in Tamil Nadu's Krishnagiri, and targeting to manufacture 10 million vehicles a year at full capacity.

On setting up infrastructure, the company aims to invest $2 billion over the next five years along with its partners to set up more than 1 lakh charging stations across 400 cities.

At present, the lack of charging stations remains one of the biggest hurdles in the adoption of electric vehicles in India.