Ola Electric car to cost under Rs 50 lakhs, says CEO Bhavish Aggarwal

Ola Electric has announced the plan of launching its first electric car in the summer of 2024.

CEO Bhavish Aggarwal it will be a premium segment offering. The CEO has hinted the car may cost under Rs 50 lakh which is almost same price of a BMW X1 SUV.

This also means that Ola car will be more expensive than the Tata Nexon EV Max.


Ola Electric had entered electric scooter market last year by announcing the Ola S1 and Ola S1 Pro.

The cost of Ola S1 Pro is Rs 1.30 lakh. Recently, the startup relaunched the entry-level Ola S1 with a price tag of Rs 99,999.

It was this event where the company announced the details of its first EV and gave a glimpse of its design.

Ola Electric said it will launch premium models first and later on more affordable variants will be rolled out.

Bhavish Aggarwal said, “Ola’s product range will span Rs one lakh (entry two-wheelers) to Rs 40-50 lakh (premium electric car) and the company’s vision is to be a “global leader in mid-size, small and premium electric cars which are suitable for markets and consumers like India.”

The above mentioned electric car from Ola will be the “fastest and sportiest” in India and will probably debut in 18 to 24 months.

The startup said it will target a million cars a year by volume by 2026 or 2027.

The CEO further added, Global automakers think that the Indian market is not ready for world-class technology and hence sell their hand-me-down tech in India. Now we need to change this. We deserve a car that defines this new India, an India that is fearless and believes in writing its own destiny. “

A keyless and handleless car, it will reach 0 to 100 kmph within 4 seconds. The car will offer a range of 500 km per charge.