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We are in the business
of innovating electric mobility
And accelerate sustainable transportation solutions
Defining the Future of Mobility
We are a pure EV player in India and are building vertically integrated technology and manufacturing capabilities for EVs and EV components, including cells. We manufacture EVs and certain core EV components like battery packs and motors at the Ola Futurefactory. Our business focuses on capturing the opportunity arising out of electrification of mobility in India and we also seek opportunities to export our EVs in select international markets in the future
Our operating and financial metrics
| Unit | Fiscal 2024 | Fiscal 2023 | Fiscal 2022 | |
| Unit Sales | Units | 3,29,618 | 1,56,251 | 20,948 |
| Revenue from operations | ₹ Million | 50,098.31 | 26,309.27 | 3,734.23 |
| Loss before tax | ₹ Million | (15,844.00) | (14,720.79) | (7,841.50) |
| EBITDA(1) | ₹ Million | (10,401.91) | (11,970.98) | (7,175.52) |
| E2W Market Share(2) | % | 35 | 21 | 6 |
Note:
(1) EBITDA is defined as our loss for the period/year, before tax expenses, finance costs and depreciation and amortisation expenses.
(2) Source: Redseer Report
Key Financial Metrics
Employee benefits expense as % of Total Income
Asset Turnover
Scooter Volumes
R&D expenses
Employee benefits expense and other expenses as % of Total Income
Adjusted Gross Margin
Total Income
R&D spend
Monthly registrations of Ola Electric Scooter (#Units)
Largest E2W Players within 9 months of commencing deliveries of our first vehicle model in December 2021
Our Market Opportunity
India is the 2nd largest 2W market globally and the 3rd largest 4W market globally by sales volumes
India is emerging as a manufacturing powerhouse of EVs and expected to reach a market size of US $19 billion to US $21 billion for E2W and US $9 billion for E4W
India’s favorable policy environment is also accelerating electrification of mobility led by improved EV penetration across vehicle segments
Approximately 18% of vehicles manufactured in India in Fiscal 2023 were exported and E2W exports are likely to be a global market opportunity of 100-110 million units per annum over time
We believe that we are well-positioned to address this large market opportunity in EV led by our vertical integrated approach, focus on technology, R&D, execution ability and eligibility to avail certain government incentives
Our Business Model
Our business model is founded on three key scalable platforms: (1) R&D and technology platform with in-house design and development across technologies, (2) Adaptable manufacturing and supply chain platform, and (3) D2C omnichannel distribution platform. Our model is vertically integrated across R&D and technology, manufacturing, supply chain sales, service, and charging facilities.
Our R&D and technology platform
Consists of the following technologies which are interconnected (a) software including our in-house developed operating system, MoveOS (b) electronics (c) motor and drivetrain (d) cells and battery packs and (e) manufacturing technology. This enables the development of an adaptable platform architecture for use in different EV models in the future which helps in control over product and performance, cost, and a fast time to market. For example) Our latest EV models S1 Air and S1X+ use the same battery packs and our models Ola S1 Pro and Ola S1 Air share the same mid-drive motor.
Control over product and performance
Cost control
Fast go-to-market
Our manufacturing and supply chain platform
Consists of a vertically integrated manufacturing ecosystem across core EV components like battery packs and motors, a resilient and common supply chain with a focus on co-location & localization, and flexible assembly lines. This combined with our capabilities of scaled manufacturing in coordination with our network of suppliers helps us drive lower costs and optimized capital expenditure for different EV models in our portfolio and in the future. For example) The core components like battery packs and motors of our EV models Ola S1 Pro, Ola S1 Air, and Ola S1 X+ are manufactured on the same assembly line
Flexible assembly lines
Scaled manufacturing driving low cost
Resilent supply chain
Our D2C omnichannel distribution platform
Consists of an integrated company-owned sales and service network, a charging network, and a digital-first online purchase platform. These capabilities give us expanded reach and greater control over the customer experience. Our different EV models in the portfolio use the same distribution platform and are scalable for future EV models allowing us a faster go-to market and optimized investment in infrastructure. For example) Our EV models Ola S1 Pro, Ola S1 Air, and Ola S1 X+ share the same sale, service, and charging network.
Increased reach and scale
Control over customer experience
Increased margins
Our business ecosystem
R&D and Technology
R&D and Technology
Software
Electronics
Motor & Drivetrain
Cell and Battery
Manufacturing
Manufacturing
and Supply Chain
Manufacturing
and Supply Chain
Online purchase
Ola Electric Store
Service centers
Charging Network
Value added services
Go to Market
Go to Market
Ola EV Hub
Futurefactory
Cell and Battery
Supplier Co-location
Our products
Scooters
Ola S1 Pro: Our flagship premium EV scooter offering, featuring an extended driving range of up to 195 km, a top speed of 120 km per hour and a range of smart technologies on a 7-inch touchscreen.
Ola S1 Air: Our second premium EV scooter offering, featuring a driving range of 151 km with a 6 kW peak motor power and a range of smart technologies on a 7-inch touchscreen.
Ola S1 X+: Retailing at a lower price than the Ola S1 Air, the Ola S1 X+ features a driving range of 151 km and comes in seven different colors. This model also includes smart connectivity features such as keyless unlock and a 5-inch segmented display.
Ola S1 X (2 kWh) and Ola S1 X (3 kWh) : Our mass-market EV scooters that feature a driving range of up to 151 km and a 3.5-inch segmented display available in two battery capacity configurations: 2kWh and 3kWh
Ola S1 Pro: Our flagship premium EV scooter offering, featuring an extended driving range of up to 195 km, a top speed of 120 km per hour and a range of smart technologies on a 7-inch touchscreen.
Ola S1 Air: Our second premium EV scooter offering, featuring a driving range of 151 km with a 6 kW peak motor power and a range of smart technologies on a 7-inch touchscreen.
Ola S1 X+: Retailing at a lower price than the Ola S1 Air, the Ola S1 X+ features a driving range of 151 km and comes in seven different colors. This model also includes smart connectivity features such as keyless unlock and a 5-inch segmented display.
Ola S1 X (2 kWh) and Ola S1 X (3 kWh) : Our mass-market EV scooters that feature a driving range of up to 151 km and a 3.5-inch segmented display available in two battery capacity configurations: 2kWh and 3kWh
Scooters
Choose Your S1
  S1 Pro+ 5.2 kWh | S1 Pro+ 4kWh |  S1 Pro 4kWh | |
|---|---|---|---|
| Introductory Price | ₹1,70,499 | ₹1,53,499 | ₹1,43,999 |
| Peak Power | 13 kW | 13 kW | 11 kW |
| Top Speed | 130 km/h | 128 km/h | 125 km/h |
| Acceleration 0-40km/h | 2.1 sec | 2.3 sec | 2.7 sec |
| Range (IDC) | 320 km | 242 km | 242 km |
| Charging Time (0-80%) | 7 hrs | 4 hrs 50 mins | 4 hrs 50 mins |
| Modes | Hyper, Sports, Normal & Eco | Hyper, Sports, Normal & Eco | Hyper, Sports, Normal & Eco |
| Colours |  | |  |
| Battery Warranty | 3 yrs/50,000 km | 3 yrs/50,000 km | 3 yrs/50,000 km |
Prices mentioned above are ex-showroom. For any other configurations, contact support@olaelectric.com.
Model Comparisons
| S1 Pro+ 5.2 kWh | S1 Pro+ 4kWh | S1 Pro 4kWh | |
|---|---|---|---|
| Top Speed | 130 km/h | 128 km/h | 125 km/h |
| Range (IDC) | 320 km | 242 km | 242 km |
| Acceleration (0-40km/h) | 2.1 sec | 2.3 sec | 2.7 sec |
| Acceleration (0-60km/h) | 3.4 sec | 4.1 sec | 4.3 sec |
| Home Charging Time (0-80%) | 7 hrs | 4 hrs 50 mins | 4 hrs 50 mins |
| Motor Power (Nominal/Peak) | 5.5 kW/13 kW | 5.5 kW/13 kW | 5.5 kW/11 kW |
| Boot Space | 34 L | 34 L | 34 L |
| True Range (Eco Mode) | - | - | - |
| True Range (Normal Mode) | - | - | - |
| Instrument cluster | 17.78 cm / 7 inch Touch Screen | 17.78 cm / 7 inch Touch Screen | 17.78 cm / 7 inch Touch Screen |
| Screen Resolution | - | - | - |
| Headlamps/Tail Lamp | LED/LED | LED/LED | LED/LED |
| Key Type | Digital Key (Keyless) | Digital Key (Keyless) | Digital Key (Keyless) |
| Scooter Warranty (Base) | 3 yrs/40,000 km | 3 yrs/40,000 km | 3 yrs/40,000 km |
| Colours | | | |
| Extended Warranty | 8 yrs/1,25,000km | 8 yrs/1,25,000km | 8 yrs/1,25,000km |
| Tone | Single | Single | Single |
| Power and Performance | - | - | - |
| Drive Modes | Hyper, Sports, Normal & Eco | Hyper, Sports, Normal & Eco | Hyper, Sports, Normal & Eco |
| Motor Type | Mid Drive IPM | Mid Drive IPM | Mid Drive IPM |
| Gradeability Claim | 24 Deg | 22.6 Deg | 17 Deg |
| Battery Capacity | 5.2 kWh | 4 kWh | 4 kWh |
| Charger Type and Capacity | Portable 750 W | Portable 750 W | Portable 750 W |
| Dimensions | - | - | - |
| Kerb Weight | 118 kg | 116 kg | 113 kg |
| Overall Length | 1899 mm | 1899 mm | 1900 mm |
| Overall Width | 850 mm | 850 mm | 850 mm |
| Overall Height | 1297 mm | 1297 mm | 1288 mm |
| Wheelbase | 1359 mm | 1359 mm | 1359 mm |
| Seat Height | 791 mm | 791 mm | 791 mm |
| Seat Length | 749 mm | 749 mm | 749 mm |
| Ground Clearance | 160 mm | 160 mm | 160 mm |
| Brakes, Wheels and Suspensions | - | - | - |
| Frame Type | Tubular & Sheet metal | Tubular & Sheet metal | Tubular & Sheet metal |
| Front Suspension | Twin telescopic | Twin telescopic | Twin telescopic |
| Rear Suspension | Mono Shock | Mono Shock | Mono Shock |
| Front Brake Type | Disc | Disc | Disc |
| Rear Brake Type | Disc | Disc | Disc |
| ABS/CBS | ABS | ABS | CBS |
| Wheel Type | Alloy | Alloy | Alloy |
| Front Tyre | 110/70 - R12 | 110/70 - R12 | 90/90 - R12 |
| Rear Tyre | 110/70 - R12 | 110/70 - R12 | 90/90 - R12 |
| Side Stand Alert | |||
| Reverse Mode | |||
| Eco Mode | |||
| Sport Mode* | |||
| Hyper Mode* | |||
| OTA Updates | |||
| Vacation Mode | |||
| Advanced Regen* | |||
| Music | |||
| Remote Boot Unlock | |||
| Bluetooth | |||
| GPS Connectivity | |||
| Navigation | |||
| Predictive Maintenance | |||
| Cruise Control* | |||
| Ola Electric App Control |
Motorcycles
On August 15, 2023, we announced a lineup of E2W motorcycles, comprising the Cruiser, Adventure, the Roadster and our flagship motorcycle, the Diamondhead. We began the delivery of select motorcycles in May 2025.
Adventure
Roadster
Diamondhead
Cruiser
Our Technology
Software
Our in-house developed software stack consists of our real time operating system firmware platform, MoveOS operating system, artificial intelligence (“AI”) platform and applications built on top of these platforms. Each of these platforms are designed to ensure scalability across EV models, supply chain resilience and faster development cycles.
Electronics
We have created a centralized control system for E2Ws that unlocks fast software processing through standardized interfaces and provides integrated human machine interaction and vehicle control.
Motor and drivetrain
We have developed and manufactured in-house, our electric motor and drivetrain, which vary in size and capacity to adapt to different power outputs.
Cell and battery
We assemble our own battery pack, source cells from a supplier and use our in-house designed BMS. We are in the process of developing cell technologies and cell manufacturing processes for use in the Ola Gigafactory, we commenced manufacturing the 4680-form factor cells at the Ola Gigafactory on March 22, 2024.
Manufacturing Technology
Manufacturing based on flexible assembly lines, allowing easy switches between different products with different performance specifications. We also employ manufacturing 4.0 technologies to manage quality control and improve our operational efficiency
Our Manufacturing and Supply chain Capabilties
EV Hub
We are building our EV hub in Krishnagiri and Dharmapuri districts in Tamil Nadu, India, which is expected to span up to 2,000 acres of land and consist of our Ola Futurefactory and our upcoming Ola Gigafactory in Krishnagiri district and co-located suppliers across both locations. Our EV hub is pivotal to our aim to become a hub for manufacturing quality EVs and to build an EV supply chain ecosystem within the EV hub that is efficient and resilient.
Futurefactory
We manufacture our E2Ws and certain E2W components at the Ola Futurefactory. We built the Ola Futurefactory in eight months, reaching a production capacity of one million units per year as of October 31, 2023. It spans across [417] acres of land in Krishnagiri, Tamil Nadu. The Ola Futurefactory is the largest integrated and automated E2W manufacturing plant in India by production capacity, as per the Redseer report. Our Ola Futurefactory is an automated manufacturing facility equipped with modular assembly lines across motor, battery and welding and has an in-house paint shop.
Gigafactory
We have designed and are building our Ola Gigafactory for cell manufacturing. We plan to manufacture the 4680 cell at scale at the Ola Gigafactory, which is currently under construction. We commenced manufacturing the 4680-form factor cells at the Ola Gigafactory on March 22, 2024. It will be located within close proximity to our Ola Futurefactory, within the EV hub. The Ola Gigafactory has a production capacity of 1.4 GwH as of May 31, 2024. We plan to use the net proceeds to expand our capacity to 6.4 GwH by April 2025.
Supply Chain
Our D2C Omnichannel Distribution Network
We operate our own D2C distribution network comprising 870 ola electric stores situated across India, including 431 service centers housed within some of the ola electric stores, as of March 31, 2024, in addition to our Ola Electric website. Our network of ola electric stores was India’s largest automotive company-owned network of ola electric stores as of September 30, 2023 according to the Redseer Report.
Our customers have access to an omnichannel purchase experience through our Ola Electric website, our online platform for D2C sales to customers, which customers can also access at our ola electric stores. Customers can discover our products, reserve test drives and pre-order and purchase EV scooters through the Ola Electric website, and track the status of after-sales services at our service centers through the Ola Electric Companion app. We deliver our vehicles across India.
A strong and resilient supply chain
Direct relationships with suppliers for consistent quality and control over costs
Focus on local suppliers
Supplier Co-location to enable just-in-time manufacturing
Our Journey and
Strong Execution
Ola
Futurefactory
Breaking ground
MAR 21
S1 Pro
delivery started
DEC 21
R&D centre
established
Battery Innovation Centre
SEP 22
Announced
S1 Air
3 models within two years of our 1st product launch
OCT 22
Gigafactory
Construction started
Battery Innovation Center
JUN 23
Planned delivery
of Motorcycles
2H of 2025
OCT 21
Futurefactory Plant
commissioned
Built in 8 Months
SEP 22
1st Ola Electric
Store opened
SEP 22
S1 Delivery
started
MAY 23
500th Ola Electric
Store Opened
Built in 8 Months
AUG 23
Announced S1
Pro (Gen 2)
& 3 Variants of S1 X/X+