Ola Electric's 3-wheeler EV spotted testing, launch later this year
Ola Electric is preparing to introduce its new electric three-wheeler (EV 3W), provisionally named 'Raahi,' within the next three to four months. The upcoming vehicle, designed with a focus on space and practicality, has been spotted during testing. It will feature square headlights, a large windshield, A-pillar mounted ORVMs, and doors for cabin safety. This launch will a significant development in the segment considering majority of the three-wheelers in India run on CNG and battery-powered rickshaws lack safety and comfort.
Ola Electric's new EV to offer category-first features
Ola Electric plans to equip Raahi with category-first features, offering a more spacious and convenient alternative to existing electric three-wheelers. In addition to the passenger version, a goods carrier variant of the Ola EV 3W will also be available. This variant will have a sizable loading bay that can be customized to meet diverse client needs. The development of this vehicle is part of Ola Electric's broader strategy to enter the commercial vehicle sector.
Ola Electric's new EV to compete with established players
The Ola EV 3W is set to compete with established players like Mahindra's Treo, Piaggio Ape e-city, and Bajaj RE in the electric three-wheeler market. Currently, these companies price their electric auto rickshaws between ₹2.0 lakh and over ₹3.5 lakh, depending on the model and additional features. The Ola EV 3W is expected to be competitively priced, potentially undercutting Bajaj's electric three-wheeler which starts at ₹3.3 lakh ex-showroom.
Ola Electric's market strategy and future plans
Ola Electric's entry into this market could significantly boost the company's path to profitability. The firms continues to solidify its position in the electric two-wheeler market, where it holds a leadership role. Ola Cabs, leading the ride-hailing sector in India, provides a significant distribution advantage for Ola Electric, allowing the company to leverage group synergies for accelerated EV penetration in the three-wheeler segment.
