Since the EV company had established its core technology, the products will be launched more frequently and that the company will soon start making profits which will be reinvested into these new products
Bhavish Aggarwal, Co-Founder of Ola Electric, has said that the electric vehicle (EV) maker will soon start manufacturing commercial vehicles along with cars and two-wheelers. He told that many announcements on these products will be made over the next one year.
In a press conference, Aggarwal said, “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,” as per an Economic Times report.
He added that since the EV company had established its core technology, the products will be launched more frequently and that the company will soon start making profits which will be reinvested into these new products. Ola Electric doesn't operate on a dealership model which makes the company the most capital-efficient among its competitors.
“There are teams working on cars, two-wheelers, there are teams working on commercial vehicles... same software, same cells, electronics are used across products,” the ET report quoted Aggarwal as saying. 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 the technology platform as products get announced in much more quick succession.”
Aggarwal spoke on the EV maker's ambitions to start manufacturing its own battery cells, saying that they were on schedule to meet their target of beginning production by the end of 2023. According to him, Ola Electric is now the largest consumer of lithium-ion battery cells in the nation. He thinks that there might be a huge in-house demand for lithium-ion battery cells and once this demand is met, the company may consider selling its cells to other Original Equipment Manufacturers.
Aggarwal stated that the business will broaden its reach in the upcoming year to countries outside of India, such as Europe and Latin America. He added that distribution arrangements were being made in a few of the nations.