Virendra Pandit
New Delhi: Ola’s electric scooters will become available for purchase in the Indian market from September 8 and home-delivered from October.
On Monday, Ola Electric said it has tied up with leading Indian banks and financial institutions for providing loans to customers for its S1 electric scooters to be made available for purchase from September 8, according to media reports.
The firm had launched Ola S1 electric scooter in two variants, called S1 and S1 Pro, at prices of Rs 99,999 and Rs 1,29,999, respectively. These are ex-showroom prices, including FAME II subsidy and excluding state subsidies. Their deliveries will start in October.
“We have tied up with all the major banks and (financial) institutions…we will have many of them live starting September 8 and then others will be live soon after,” Ola Electric Chief Marketing Officer Varun Dubey was quoted as saying.
As consumers will be buying online the entire process will be “very seamless”.
The customers will get all the details online. “Also, we have got attractive financing options, with the EMIs starting at just Rs 2,999 for S1 variant”, he said.
Hundreds of thousands of customers are said to have booked the two electric scooters. From September 8 onwards, they can pay the remaining amount and finalize vehicle variant and color options.
“Then we will start deliveries for them from October onwards. We will be doing home delivery and actually take the scooters to their doorsteps,” Dubey added.
Ola Electric had opened pre-launch bookings of its electric scooters in July for Rs 499 and had received one lakh orders in just 24 hours. But it has not disclosed how many orders it has received so far.
On August 15, the company announced its foray into the green mobility space with the launch of its first electric scooter, Ola S1.
It comes in 10 colors with in-house development of 8.5 KW motor and 3.97 kWh battery packs. Ola is setting up a manufacturing plant, spread across 500 acres, in Tamil Nadu.
The firm said it would initially start with an annual production capacity of 10 lakh scooters and then scale it up to 20 lakh, in line with market demand, in the first phase.
When fully completed, Ola Electric said, its plant would have an annual capacity of one crore units “that is 15 percent of the world’s entire total two-wheeler production”.