 "Ola unveils e-bike service in Delhi, Hyderabad; plans 10K EVs across cities")
Ride-hailing platform Ola unveiled its e-bike service in Delhi and Hyderabad on Friday. The SoftBank-backed company will also expand and increase the deployment of e-bikes in Bengaluru following a successful pilot.
The company plans to deploy 10,000 e-vehicles across these cities over the next 2 months. This is in line with its vision and growth strategy to serve 1 billion Indians and nationwide penetration with electrification.
With the deployment of these vehicles, Ola will have the largest EV 2W (electric vehicle two-wheeler) fleet in the country. The company will double down and scale up the e-bike services throughout India by the end of this year. With prices as low as Rs 25 for 5 kilometres (kms), Rs 50 for 10 kms, Rs 75 for 15 kms, Ola said the e-bike service will be the most affordable, sustainable, and convenient solution to commute within the cities.
“At Ola, driving affordable mobility through electrification is our priority and in line with our vision to serve 1 billion Indians. With our focus on innovation, and accessibility, our e-bike taxi initiative will also serve as a multi-work opportunity for gig-economy workers on the Ola platform and pave the way for the future of commerce,” said Hemant Bakshi, CEO, Ola Mobility.
In September 2023, Ola tapped urban mobility in Bengaluru with a pilot launch of the e-bike taxi service. The move offered the most affordable electric two-wheeler rides in India and a substantial 40 per cent market expansion in the category within three months. To date, it has accomplished more than 1.75 million rides. In addition, Ola also set up 200 charging stations in Bengaluru to service its e-bike fleet. It will also set up an extensive charging network in all the markets it is present in.
Ola recently announced that its India Mobility Business turned Ebitda positive in FY23, one of the few Indian internet companies to achieve this feat. The company announced an aggressive growth focus on ride-hailing, financial services, logistics, and e-commerce. The vision to serve a billion Indian consumers and empower 10 million partners economically.
Vision Sheet
Firm will raise the deployment of e-bikes in Bengaluru
It plans to deploy 10,000 e-vehicles across the three cities over the next 2 months
Ola will have the largest EV two-wheeler fleet in the country after deployment of these vehicles
Service prices are set at Rs 25 for 5 km, Rs 50 for 10 km, Rs 75 for 15 km
