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Ola Mobility enters EV market with its E-Bike service in Delhi and Hyderabad
The leading ride-hailing company in India, Ola, today announced the expansion and increased deployment of its
e-bike
service in Bangalore after a hugely successful trial programme. Additionally, Ola announced the debut of its e-bike service in Delhi and Hyderabad as well. Over the following two months, 10,000 e-vehicles will be deployed throughout these cities by Ola, in keeping with the company's growth strategy and aim to serve one billion Indians through electrification. By the end of this year, Ola plans to have the biggest EV 2W fleet in the nation thanks to the deployment of these cars, and it will also be expanding its e-bike services over the whole country.Hemant Bakshi, CEO of Ola Mobility, commented on the launch, saying that electrification is the largest lever to unleash affordability in the mobility market.
He said, “In keeping with our goal of serving one billion Indians, Ola prioritises advancing electrification as a means of enabling affordable transportation. After the tremendous success of our Bangalore e-bike taxi pilot, we have demonstrated a sustainable value proposition for all players in the ecosystem, including Ola (new revenue stream and category), the driver (increased earnings), and the consumer (lower price).”
Breaking the update, he said, “We are now looking at mass deployments throughout Bangalore, Delhi, and Hyderabad in order to expand the e-bike taxi market in India. Our e-bike taxi programme, which prioritises accessibility and innovation, will pave the road for future commerce and provide gig economy workers on the Ola platform with several job opportunities.”
Ola transformed urban transportation in Bangalore in September 2023 when it introduced a trial version of their e-bike taxi service. In just three months, the ground-breaking initiative achieved a significant 40% market increase in the category and provided India's most reasonably priced electric two-wheeler trips. It has completed more than 1.75 million rides so far. To maintain its fleet of e-bikes, Ola also installed 200 charging stations in Bangalore. In every market it enters, it will also establish a vast network of charging stations.
Ola, one of the few businesses to do so, has revealed that its India Mobility Business achieved EBITDA positive growth in FY 23. The business said that ride-hailing, financial services, logistics, and e-commerce will be its primary areas of expansion. With the goal of empowering 10 million partners economically and serving a billion Indian customers, Ola is prepared to completely redefine and reinvent transportation.