SUMMARY
According to the report, the global chip-shortage and an over-dependence on imported components has meant that Ola’s ‘superfactory’ is operating at much below full capacity
Hero Electric is the biggest electric two-wheeler manufacturer in the country with more than 40,318 sales between January and November this year followed by Okinawa (23,899), Ather (14,152) and Pure EV (9,363).
Earlier this month, the startup had delivered more than 100 vehicles to customers during an event attended by founder Bhavish Aggarwal amidst much fanfare and celebration
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Mass production of Indian EV unicorn Ola Electric’s escooters is likely to be pushed back according to media reports.
Earlier this month, the startup had delivered over 100 vehicles to customers during an event attended by founder Bhavish Aggarwal amidst much fanfare and celebration but according to sources close to the matter who spoke to Bloomberg, the scooters are set to be delayed even further.
According to the report, the global chip-shortage and an over-dependence on imported components have meant that Ola’s ‘superfactory’ is operating at much below full capacity, and would struggle to deliver the 90k orders it has received according to Aggarwal.
The new development makes Bajaj MD, Rajiv Bajaj seem like a bit of a nostradamus. The legacy manufacturer had taken potshots at Ola Electric and other EV startups, asserting that legacy manufacturers will get the better of the new kids on the block.
“If we launch a motorcycle in October, you will get it in November. It is not that we will launch in 2021, you have to wait till 2022”, said Bajaj, while speaking at the release of a new Bajaj motorcycle in Pune earlier this year.
Hero Electric is the biggest electric two-wheeler manufacturer in the country with more than 40,318 sales between January and November this year followed by Okinawa (23,899), Ather (14,152) and Pure EV (9,363).
TVS is the highest-ranked legacy automaker on the list, coming in at sixth rank with 4,068 sales, followed by Bajaj (3,841) at eighth.
Earlier this month Ola had raised investments from Paytm founder Vijay Shekhar Sharma, Farhan Akhtar and Zoya Akhtar among others. According to regulatory filings accessed by Inc42, the startup is raising $53 Mn by allotting 371 Series C compulsory convertible preference shares to Singapore’s Temasek, IIFL, Edelweiss and angel investor Rahul Ravindra Raj Mehta among others.
The delivery of Ola scooters has been postponed multiple times citing a variety of reasons including website glitches and supply-chain issues.
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