Ola Electric is looking to bring cars on the road soon to compete with the Tesla cars that will be launched soon in our country. Ola Cabs founder and Ola Electric CEO Bhavish Agarwal plans to bring the Ola electric car on the road in 2023. It is known that Ola has launched the electric scooter S1 on the occasion of the 75th Independence Day of India. A few weeks ago when the company said it could make pre-bookings for electric scooters, it received over lakh orders in 24 hours. With this, Ola Electric set a world record.
Make in India electric car
With the entry of OLA into the electric vehicle sector in India, there has been tremendous competition in that market at once. Agarwal said his goal was to create an electric car with 90% locally available parts to bolster Prime Minister Narendra Modi’s Make in India initiative during the launch of the Ola S1. Bhavish Agarwal’s remarks came at a time when Tesla was still planning to bring cars into the country. In July, Elon Musk said it would set up a manufacturing unit in India if the American EV company Tesla was the first to succeed with vehicles imported into the country.
Agarwal opposes Elon Musk
Musk said Tesla wants to launch its vehicles in India. “But, import tariffs are the highest in any major country in the world!” Said. That is why Musk urged the government to reduce tariffs on imported electric vehicles. Hyundai Motor India chief said welcomed the call. Bhavish Agarwal has slammed a proposal by Tesla chief Elon Musk and Hyundai MD SS Kim to reduce import tariffs and customs duties in India.
He suggested that the companies should have confidence in their ability to build electric vehicles in India. He said setting up factories for electric vehicle products in the country would attract global manufacturing giants to India. Currently, the center imposes a 100% import duty on fully imported cars. “Those who want to import vehicles into India should invest in the country,” Ola CEO Bhavish Agarwal said while launching the scooter.
So Ola is not a cab rental service anymore it gonna be a vehicle manufacturing company with the launch of the Ola S1 Scooter and it will compete with Tesla and other EV car makers in India from the year 2023 with the launch of their electric cars.
Many of the companies in India are entering the electric vehicle manufacturing sector. So we need to wait and see who will capture the majority market share in the Indian electric vehicle sector.
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