In September, Ola Electric raised $200 million to accelerate its plans to develop electric motorcycles and cars as well. Ola Electric CEO Bhavish Aggarwal had tweeted that the fund raise is a part of the EV startup’s plans to fast track its ‘Mission Electric: No petrol 2W in India after 2025’. Will you explain?
We welcome everyone in the industry to join hands in our Mission Electric which is that after 2025, in India no petrol two-wheeler should be sold. This is not just Ola’s mission, we believe this is India’s mission. This is a mission that will get delivered only when all of us in the industry as well as our consumers get together and drive this. It is not easy but it is possible and we welcome everybody — whether legacy or the new players — to join because only when we all come together we will do it.
Let us speak about the scooters now, the last time we spoke you said that almost Rs 1,200 crore worth of scooters have been sold. When are the deliveries starting?
Varun Dubey: We are doing the test rides and will start delivering once that is over. As soon as customers do the test rides, they can pay us the balance amount and we will start delivering scooters right after that.
When will the first delivery start and what is the delivery timeline of the last person who had booked?
When we opened this up on September 15 and 16, we already communicated the delivery windows to customers. Some people will get the scooters in November, some in December, some in January and others in February. The next date of booking is opening in December.
Will that also be a one day, two day thing or we can see a bigger window opening up?
Right now the plan is just to open from 16th onwards, we will share more of that as the date gets closer in terms of exactly what the modalities will be for the next purchase window.
How is your production ramp-up going because the semiconductor problem is a global problem. How much have you been impacted by the semiconductor crisis?
This is a very serious situation going on around in the world and I do not think anyone is immune from it. We have also faced some challenges but we have factored a lot of that into the timelines we have given to customers. So we expect minimal impact and should be able to maintain the timelines.
Are you adequately funded or will you be needing a bit more funding to attain the capacity you have talked about?
We are very well funded to complete the future factory and for the various plans that we shared with you.
How does the four-wheeler plan look like?
The four-wheeler plan is in play. We will do the full range of electric vehicles. We have right now launched with the S1 and Pro which are the first in our range of scooters. We are obviously going to do a mass market scooter also. We are also going to do bikes.
Can you give us a timeline on when the mass market scooter will enter the market?
We are working on it very aggressively and if you see the way we have shortened the timelines in the past, you can expect the same stuff to happen.
In one year, can we see the bike and the mass market scooter both coming?
We will talk about future products, We never talk about the products until we are ready to share more on the details.
So you will have a full line up?
We will absolutely have a full range of scooters, bikes and other two-wheelers as well as four-wheelers.
People are a bit concerned about how the servicing of these scooters will happen.
Service is going to be like our sales. When you buy a scooter from us, you can buy it online. You can get a test drive and then the scooter gets delivered to your house. Similarly, if you require service, it is condition based and so the scooter will alert you as and when service is required. You do not need to follow a set time or distance. Then if you need, you can just book an appointment on our app and our service technician will show up at your house and we will service the scooter there. Suppose you have been in an accident or you need paint work or paint shop work, we will take the scooter, do all the work and then deliver it back.