Motor vehicle manufacturing Ola Electric planned to launch Raahi, an electric autorickshaw manufactured by the company and marketed directly to consumers, reported the Economics Times (ET) on Wednesday, which is expected to enter the market in late March.
There is a peak rise in market presence for electric vehicles, including bikes, cars, buses, and autorickshaws, and Ola Electric has been working on manufacturing electric conveyance for some years as part of its bigger strategy to penetrate the commercial vehicle market.
The soon-to-be-launched Raahi will compete with Mahindra Treo, Piaggio Ape e-city, and Bajaj Rear Engine in the electric three-wheeler category.
The company has already established its presence in the electric two-wheeler realm with its Ola E-Bikes. Ola Electric launched its recent models S1X and S1X+, in August 2023, with S1X being the most economic variant of the company’s bikes.
“Ola Electric is looking to make a slew of announcements, including on the gigafactory, in the next few months ahead of the listing, reported ET based on its source, and also mentioned, “The e-autorickshaw is part of the same plan and internally the target is to do it over the next two weeks or so.”
According to Ola Electric’s industry research, India is emerging as a global manufacturing powerhouse for technology-driven automobiles, with worldwide implications. India contributes 15-20% of global output in the two- and four-wheeler passenger vehicle markets (in terms of sales volumes).
The company’s report said India’s automotive sector would produce 26 million vehicles annually as of 2023, and the Indian government intends to increase the automotive industry’s contribution to 40% of manufacturing GDP by FY 2026.
To read more on Energy, head to the link.
