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Ola Electric hikes prices after subsidy cut, plans to launch three new models

Homegrown electric vehicle manufacturer Ola Electric announced that it will increase the prices of its models in India by up to Rs 12,000. The decision comes after the government recently slashed subsidies for electric two-wheelers from 40 percent to 15 percent of the vehicle cost.

The company’s CFO, GR Arun Kumar said that the electric vehicle market has reached an inflexion point and customers are choosing electric vehicles over ICE vehicles. He said that the current discussion on subsidies is moving in the right direction and that it is normal for subsidies to be phased out gradually.

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