Ola Electric, India’s largest electric two-wheeler manufacturer, is set to launch its first electric three-wheeler in the latter half of 2025. This marks a significant step in the company’s expansion into the electric three-wheeler market, with another model expected in 2026.
Ola Electric Chairman and Managing Director, Bhavish Aggarwal, informed investors that the company is actively developing electric three-wheelers, following the release of its second-quarter results. While specific launch dates were not provided, the company’s presentation indicated that a passenger three-wheeler is scheduled for release in the latter half of 2025, with a cargo version planned for 2026. Aggarwal noted that the electric three-wheelers will share the same platform as the popular S1, with identical electronics, battery architecture, and powertrain, differing only in the mechanical components.
Electric three-wheelers are seeing rapid adoption in India, with 54% of all three-wheelers sold in the first half of this financial year being electric. Major competitors in the space include M&M and Bajaj Auto. Ola Electric, which holds a 30% share in the electric two-wheeler market, aims to expand its distribution network to 2,000 stores by March 2025, up from 782 currently.
In addition to the electric three-wheelers, Ola Electric plans to launch over 20 new products in the next two years, including scooters, motorcycles, and three-wheelers, with at least one new product every quarter. The company also anticipates launching its electric Roadster motorcycles in the fourth quarter of the current financial year.
Furthermore, Ola Electric has expedited the rollout of its new Gen 3 platform, now scheduled for January 2025 instead of August 2025. The new platform, which will power the company’s upcoming models, includes an integrated battery, a magnet-less motor, and onboard electronics. The Gen 3 platform is expected to enhance performance by 26% and reduce costs by over 20% compared to the current Gen 2 platform used in its existing scooters.
Ola Electric Mobility Limited is a prominent electric vehicle (EV) manufacturer in India, known for its integrated approach to EV technology and manufacturing, including the production of battery cells. The company’s operations are anchored in the Ola Futurefactory, where key EV components such as battery packs, motors, and vehicle frames are produced.
With research and development efforts across India, the UK, and the US, Ola focuses on advancing EV products and core technologies. The company is also building a major EV hub in Tamil Nadu, which will include the Ola Futurefactory and the upcoming Ola Gigafactory, supported by the Battery Innovation Centre (BIC) in Bengaluru, aimed at enhancing cell and battery technology. Ola Electric operates the largest company-owned network of automotive experience centres in India, with over 750 locations nationwide, complemented by a strong online presence.
4o mini
