Ola Electric Rides Into EV Motorbike Space, Announces 4 New Bikes

SUMMARY

The four bikes – the Ola Cruiser, the Ola Roadster, the Ola Adventure and the Ola DiamondHead – are scheduled to be launched by the end of 2024

The company did not share the specifications of the four bikes, though it did display prototypes of the bikes at the live event

The development follows shortly after Ola Electric introduced a new series of scooters – the Ola S1 X – alongside MOVE OS 4 and Gen 2 vehicle platform

Following the launch of the S1 X range of electric scooters, Ola Electric announced four electric bikes during its End of ICE Part 1 event on Independence Day, 2023.

The four bikes – the Ola Cruiser, the Ola Roadster, the Ola Adventure and the Ola DiamondHead – are scheduled to be launched by the end of 2024.

Ola Cruiser: A cruiser bike for long-distance riding
Ola Roadster: Being pitched as a daily rider
Ola Adventure: Suited for off-roading
Ola DiamondHead: A super sports bike

The EV major did not share the specifications of the four bikes, though it displayed prototypes during the live event.

The development follows comes shortly after Ola Electric introduced a new series of scooters – the Ola S1 X – alongside a new variant of its native vehicle OS, the MOVE OS 4 and a new generation of vehicle platform for all future Ola Electric scooters, the Gen 2.

The S1 X+ will start at INR 1.09 Lakh, with the purchase starting today. The 3 kWh S1 X will retail at INR 99,999. The 2 kWh variant will retail at INR 89,999.

Ola Electric also launched the Gen 2 variants of Ola S1 Pro and Ola S1 Air, taking the newly-launched scooters to five. Overall, the mobility unicorn launched or announced nine vehicles at the event.

“The future of motorcycling will be made in India, by Indians for the world,” said Bhavish Aggarwal, CEO of Ola Electric, at the live event.

The new bikes launch as Ola Electric saw its net loss almost quadruple to INR 784.1 Cr in the financial year 2021-22 (FY22) from INR 199.2 Cr in FY21. However, the numbers for FY22 are not comparable with those of FY21 as the electric vehicle (EV) startup began delivering its escooters only in December 2021.

Operating revenue stood at INR 373.4 Cr in FY22. The startup primarily earns revenue through the sale of its escooters. Further, reports suggest its losses for FY23 will hover around INR 1,116 Cr ($136 Mn) and revenue of about INR 2,750 Cr ($335 Mn), missing its publicly-stated goals for the financial year.

Other startups in the EV motorbike industry include the likes of Ultraviolette, Revolt, Ober and Tork. Globally, with the launch of motorbikes, Ola Electric will compete against the likes of Yamaha, Harley-Davidson and BMW.