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Ola Electric rides into gig segment
Business Standard
|November 27, 2024
Set to launch sub-₹40K e-scooter; aims for wider adoption through collaboration with Ola Cabs
With India's gig economy projected to double in size, reaching over 10 million workers in the coming years, Ola Electric unveiled its new line of budget-friendly e-scooters, starting at under ₹40,000.
The market responded positively, with Ola Electric's stock rising by 5.67 per cent, closing at ₹73.47 on the BSE.
The new range includes the Ola Gig, priced at ₹39,999, specifically designed for gig workers making shorter trips. The S1 Z series starts at ₹59,999, offering an affordable alternative to the original S1 model.
Ola Electric Chief Executive Officer Bhavish Aggarwal posted on X that the S1 Z is the same as the S1 but at a more accessible price point.
In another post, he wrote: "India's gig economy will be 2x in the next few years with more than 10 million workers. These workers unfortunately have to ride poor quality products at a much higher price."
This story is from the November 27, 2024 edition of Business Standard.
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