Ola Electric to enter commercial vehicle space in the next few months: Bhavish Aggarwal

Ola Electric will soon be stepping into the commercial vehicle space in India, co-founder Bhavish Aggarwal announced recently. Aggarwal said that Ola Electric will soon start generating profits from its two-wheeler business and these profits will be reinvested into new products, an ET report states. Ola is the most capital efficient among competitors since it does not run a dealership model, he added.
"Motorbikes, scooters, small and light vehicles have all been of interest to us and over the next 12 months, you will hear a lot more announcements on these products," Economics Times quoted Aggarwal from a press conference on Thursday.
"There are teams working on cars, two-wheelers, there are teams working on commercial vehicles... same software, same cells, electronics is used across products," he added.

"We had a clear vision from day one; we use our technology as our platform and in the next few months you will appreciate the power of technology platform as products get announced in much more quick succession."
In related news, Ola Electric has rolled out its MoveOS 3 software for over 1 lakh customers. This comes as the third update to the MoveOS within one year. It brings with it 50 new features, along with improvements in performance. The Ola electric scooters now have access to hypercharging, which promises 50 km of charge in 15 minutes, through Ola's hypercharger network.
Ola has also been on an aggressive expansion spree, opening over 50 experience centres spanning across the country and is on track to open 100 outlets by the end of this month and 200 by March 2023.