The electric three-wheeler will use the same S1 platform as its two-wheeler, in terms of electronics, battery architecture and powertrain.
11 Nov 2024 | 27062 Views | By Kiran Murali
India's largest electric two-wheeler maker, Ola Electric Ltd, which has been working on a portfolio of electric three-wheelers, is likely to launch the first model in the second half of next year, followed by another in 2026.
"We are working on three-wheelers," Ola Electric Chairman and Managing Director Bhavish ...
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India's largest electric two-wheeler maker, Ola Electric Ltd, which has been working on a portfolio of electric three-wheelers, is likely to launch the first model in the second half of next year, followed by another in 2026.
"We are working on three-wheelers," Ola Electric Chairman and Managing Director Bhavish Aggarwal told investors after announcing the company's second quarter results.
Although he did not mention the time of the launch, the company's presentation shows that a passenger three-wheeler is being planned for the second half of next year while a cargo three-wheeler is slated for the second half of 2026.
"The beauty is that it shares the same platform as our S1 in terms of electronics, battery architecture and powertrain. Only the mechanicals are different," Agarwal said about the electric three-wheelers.
Three-wheelers are witnessing significant adoption of electric vehicles in India. Around 54% of the three-wheelers sold in the first half of the financial year was electric. M&M and Bajaj Auto are the major players in this market.
Ola Electric has a share of around 30% in the electric two-wheeler market. It targets to expand the distribution network to 2,000 stores by March, up from 782 currently.
The plans for an electric three-wheeler come as the company looks to launch more than 20 products over the next two years, with at least one product every quarter. This includes scooters, motorcycles and three-wheelers.
The company is expected to debut in the electric motorcycle space with the deliveries of its Roadster series from the fourth quarter of the current financial year.
Meanwhile, the automaker has preponed the use of new Gen 3 platform for its models to January next year from earlier planned August. Its scooters are now being built using Gen 2 platform.
The Gen 3 model would include an integrated battery, magnet-less motor, and electronics within the chassis. The platform is expected to improve performance by 26% and reduce costs by more than 20%, compared to the existing platform. ENDS