Ola, India’s premier ride-hailing platform, has initiated a major step in urban mobility by launching its e-Bike service in Delhi and Hyderabad. This comes after a highly successful pilot in Bangalore, leading to plans for expanding and increasing e-Bike deployment across these cities.
Ola’s ambitious goal is to deploy 10,000 e-vehicles in the next two months, solidifying its position as the largest EV 2W fleet in the country. By the end of the year, Ola aims to significantly scale up its e-Bike services across India.
Affordable and Sustainable Commuting Solutions
Ola e-Bike services stand out for their affordability, with rates as low as INR 25 for 5 km, INR 50 for 10 km, and INR 75 for 15 km. This makes Ola’s e-Bike service the most economical and environmentally friendly way to travel within cities.
CEO’s Vision for Electrification in Mobility
Hemant Bakshi, CEO of Ola Mobility, emphasizes that electrification is key to achieving affordable mobility. This initiative aligns with Ola’s vision to serve 1 billion Indians.
The success of the e-Bike taxi pilot in Bangalore demonstrated its sustainable value for consumers (lower prices), drivers (higher earnings), and Ola (new categories and revenue streams). Ola’s commitment to innovation and accessibility is evident in its e-Bike taxi initiative, offering gig-economy workers multifaceted job opportunities and setting the stage for the future of commerce.
Pilot Success and Future Plans
Ola’s pilot e-Bike taxi service in Bangalore, launched in September 2023, marked a turning point in urban mobility. Offering affordable electric two-wheeler rides, it led to a 40% market expansion in just three months, accomplishing over 1.75 million rides. The company also established 200 charging stations in Bangalore and plans to set up an extensive charging network in all operational markets.
Ola’s Path to EBITDA Positive and Aggressive Growth
Ola recently announced its India Mobility Business turning EBITDA positive in FY 23, a rare achievement among Indian internet companies. The company’s aggressive growth focus encompasses ride-hailing, financial services, logistics, and e-commerce. With the vision to serve a billion Indian consumers and empower 10 million partners economically, Ola is poised to redefine mobility.