Ola Electric is set to expand its product line by launching a three-wheeler electric vehicle this year. This was confirmed by the company’s CEO, Bhavish Aggarwal via media. The move marks a significant step for Ola Electric, which is aiming to diversify its offerings in the electric vehicle (EV) sector.
Having already established a dominant presence in the electric two-wheeler market, Ola Electric is now focusing on making a mark in the three-wheeler segment. The company hopes to replicate its success and capture a significant market share in this new space. This expansion also makes the firm eligible for the government’s Production Linked Incentive (PLI) scheme, which provides financial support to companies manufacturing specific products in India.
Additionally, Ola Electric recently announced that its products would be available on the government-backed Open Network for Digital Commerce (ONDC), further boosting its reach.
Despite the positive developments, Ola Electric’s shares were trading 3.05% lower at ₹111.65, reflecting some investor caution.
With its upcoming three-wheeler launch, Ola Electric is poised to further solidify its position in the EV market, aiming for continued growth and innovation.
