Ola might have abandoned of its ambitious electric car project, but it seems to be continuing to expand its portfolio beyond electric scooters.
Ola Electric is testing out a three-wheeled electric vehicle, ET reports. The vehicle was seen on the streets of Bengaluru in what appeared to be a test drive. Ola Electric will reportedly make the vehicle available for sale in the next 3-4 months.
The vehicle will be called Raahi, which means ‘traveler’ in Hindi. Raahi appears to have square headlights, a large windshield, pillar-mounted outside rear-view mirrors, and doors. Ola is also looking to release a goods-carried variant of the vehicle
There has been an explosion in the electric rickshaw space in India over the last few years. Several dispersed local brands have cropped up, which primarily source four-wheeler vehicles from China and distribute them in Indian towns and cities. In the organized sector, there are several electric three-wheelers including Mahindra’s Treo, Piaggo’s Ape e-city, and Bajaj RE. These range between Rs. 2 lakh and Rs. 3.5 lakh in price. Ola’s Raahi is expected to be priced competitively, and will compete with other established brands.
Electric three wheelers are a rapidly growing market in India. Last year, 5.8 lakh electric three-wheelers were sold in the country, which was a 66 percent increase over 2022. In 2023, more than 50 percent of all three wheelers sold were electric.
And Ola could end up making a sizeable dent in the space. It has substantial brand recognition among auto drivers, which could help push the sales of its electric three-wheeler. Ola already has its own factories and cell manufacturing units, and can quick ramp up production. And Ola is better than most at marketing. It chose to have a camouflage-wrapped 3 wheeler ride the streets of Bengaluru which would draw glances and create buzz — a normally-painted three-wheeler would’ve likely gone unnoticed, but Ola is looking to get the word out about its electric scooter. It remains to be seen how Ola’s Raahi fares, but Ola could be opening up another front against incumbents like Bajaj with its three-wheeler electric vehicles.