Ride hailing company Ola has announced its entry in the premium EV category with a fleet of 10,000 electric cars. The company is in the final stage of rolling out electrification in coming weeks.

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The company, in a statement, said that the new premium fleet of Ola will be operated by top-rated drivers and provide 100 percent ride assurance post allocation of the cab, zero cancellations, and 100 percent cashless payments.

The Founder and CEO of Ola Electric, Bhavish Aggarwal said that the electrification of the ride-hailing fleet is the next frontier for the industry and a huge step in the direction of the future of mobility.

“Our roadmap of developing in-house core technologies and products that can be leveraged across the group levels gives us a very strong competitive advantage in the ride-hailing business. We are completely reimagining this segment to not only improve the driver and consumer experience but also offer clean and green mobility options eventually to 500 million Indians,” he said in a statement.

As per Economic Times report, the company is planning to start its own electric vehicle (EV) cab service and will begin the pilot in Bengaluru with around 1,000 cabs and further plans to scale up the number of Electric vehicle cabs to over 10,000 in one year in the city.

The service will be available on the Ola app as a separate category along with regular cabs and auto service. Ola’s rival company Uber also recently started an EV cabs pilot in Delhi.

In two wheelers, the Bhavish Aggarwal-owned company accounts for more than 17 percent of the market share in India. Homegrown e-2W manufacturer Ola Electric sold 1,08,130 vehicles in 2022 and emerged as the leader in the country’s electric two-wheeler space.

The electric two-wheeler maker sold over 25,000 units in December 2022. The company, which has been expanding on the direct-to-consumer front, also revealed that it is on track to open 200 outlets by the end of March 2023. Currently, it has 100 experience centres in operation across the country.

Aggarwal, Founder and CEO of Ola Electric, said 2022 has proven to be the inflexion point in India's journey towards becoming a global EV hub. "If last year has shown us the true potential of India's EV market, next year is poised to open the floodgates for EVs in the country," he added.

Also Read: Electric 2-wheeler sales grow 21-fold in 3 years — who are the Top 3 players?

(Edited by : Pradeep John)