Ola Mobility accelerates electrification momentum,
announces launch of e-Bike service in Delhi and Hyderabad
With deployment of these vehicles, Ola will have the largest EV 2W fleet in the country
Bangalore, January 26, 2024: Ola, India’s largest ride-hailing platform, today announced the launch of its e-Bike service in Delhi and Hyderabad, while the company will expand and increase deployment of e-Bikes in Bangalore following a massive pilot success. In line with the company’s vision and growth strategy of serving 1 Billion Indians and nationwide penetration with electrification, Ola plans to deploy 10,000 e-vehicles over the next 2 months across these cities. With the deployment of these vehicles, Ola will have the largest EV 2W fleet in the country, and 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 INR 25 for 5 km, INR 50 for 10 km, INR 75 for 15 km, the Ola eBike service will be the most affordable, sustainable, and convenient solution to commute within the cities.
Commenting on the launch, Hemant Bakshi, CEO, Ola Mobility , said: “Electrification is the biggest lever to unlock affordability in the mobility space. At Ola, driving affordable mobility through electrification is our priority and in line with our vision to serve 1 billion Indians. Following the massive success of our Bangalore e-Bike taxi pilot, we have proven its sustainable value proposition for all ecosystem participants – the consumer (lower price), the driver (higher earnings), and Ola (new category and revenues), and now look at mass deployments across Bangalore, Delhi and Hyderabad and build a larger market for e-Bike taxis in India. 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.”
In September 2023, Ola revolutionized urban mobility in Bangalore with a pilot launch of the e-Bike taxi service. The pioneering move offered the most affordable electric two-wheeler rides in India, and a substantial 40% 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 Bangalore to service its ebike fleet. It will also set up an extensive charging network in all markets it operates in.
Ola recently announced that its India Mobility Business has turned EBITDA positive in FY 23, 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. With a vision to serve a billion Indian consumers and empower 10 million partners economically, Ola is all set to reimagine and redefine mobility.