Economy

Ola plans to roll out 10k electric three-wheelers in a year

Ola plans to roll out 10k electric three-wheelers in a year

The largest ride-hailing business in India has very ambitious plans of putting one million electric vehicles on the polluted streets of the country.

"Three wheelers are a vital means of transportation and a source of livelihood for millions of people every day", said Ola co-founder and CEO Bhavish Aggarwal in a statement. After Ola launched India's first multi-modal electric vehicle project in Nagpur in May 2017, a Reuters report of March 2018 revealed that a number ofOla drivers have expressed their dissatisfaction, primarily due to long wait times at charging stations and high operating costs. Electric cabs and buses, as well as rickshaws, were included in the Nagpur roll out. Its goal is to turn most if not all vehicles on the roads of the country electric in 12 years, but several challenges are faced by the country to achieve such an objective, including expensive technology for makers of cars and a lack of overall infrastructure. Ola says it will work with driver-partners, cities, vehicle manufacturers, and battery companies to make sustainable technologies cost-effective and viable in daily mobility. It has already signed a pact with automobile firm Mahindra & Mahindra for the electric vehicle business.

While Ola said it will further expand its EV fleet to three other Indian cities, it has not disclosed the names yet.

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If things go to plan, ride-hailing company Ola could emerge as one of the largest electric vehicle (EV) fleet operators in the world by next year. The idea is to bring cleaner, more comfortable, and safer products to market. Electric vehicle sales in India, one of the world's fastest-growing auto markets, made up less than 0.1% of annual sales of more than 3 million passenger cars. "We look forward to working with state governments and other partners to introduce accessible, affordable, and sustainable mobility solutions at scale". The electric vehicle program in Nagpur has provided Ola with significant insights into effectively managing vehicles, batteries, and operations. The market for electric vehicles is growing rapidly in India, thanks to the government's unceasing efforts to ensure 30% electric mobility in India by 2030. It added that it plans to continue exploring ways to optimise batteries and charging. Last May, media reports had suggested that Ola was headed the electric auto way, or at least that its lead investor-SoftBank-was bullish about the electric vehicle market in India. They believe that the large-scale adoption of electric vehicles can bring the monumental change we need. Ola will partner with vehicle manufacturers and state institutions to help deliver its promise.

Currently, Delhi seems to be a thriving hub for e-rickshaws.