Ola Electric is the largest electric 2-wheeler producer outside of China. After starting production in December 2021, the rapid sales growth allowed the company to achieve the leadership in the domestic market although the still tiny model line-up.
Ola Electric Mobility was founded in 2017 in Bangalore, Karnataka (India), to produce electric two and three-wheelers with a new technology, 100% based on electric engines fueled by 100% renewable energy.
The manufacturing facility is located in Krishnagiri, Tamil Nadu (India), on a 500 acre land and is probably the largest 2-wheeler manufacturer actually in the world, called the Future Factory, built with a US$324 million investment.
The production started in December 2021 and in 2023 CY the company took the leadership in the Indian electric 2-wheeler segment.
The company also produces battery cells at its manufacturing facility in Tamil Nadu, which supplies energy storage solutions for its vehicles and other applications. The plant, called Giga-Factory, will be operative in the start of 2025.
While the company has announced the next launch of over 20 new models, including electric motorcycles, actually the line up is very tiny, based on a single model platform, and a single model, the Ola S1, offered in three variants named Ola S1 Air, Ola S1X and S1 Pro.
The company is taking benefit from the strong incentive scheme in place in India, with fiscala and financial support for local manufacturers using over 60% of components locally made. After taking the domestic market leadership in 2023, during the 2024 Ola Electric sold 400.000 vehicles, confirming the rule as leader within the Indian market and largest EVs manufacturer outside of China.
