Being the market leader in India has been the primary calling card of Ola Electric. Acquiring Etergo and getting the AppScooter to production before the competition could enter the market meant that Ola could gain market leadership. Now, the market is maturing and others are inching ahead.
The industry takes slow yet significant strides towards electrification
Ola Electric, the E2W market leader in India announced four new moped models. This would be an all new low-power model range energised by the company's new portable battery packs targeted at fleet operators
The Ola scooter range, all variants on the Etergo platform, is energized with floorboard-mounted fixed batteries. However, India's fast-growing fleet delivery market, dominated mainly by Chinese imported two-wheelers, primarily uses portable/swappable batteries. Now, Ola joins the party
With Ola Electric now publicly traded and Ather Energy soon to follow, Indian E2W startups are raising funds with urgency. The two-wheeler market is divided amongst less than 10 major brands, and the country has space for more high-quality E2W manufacturers.
Ather Energy, another electric two-wheeler manufacturer, files for an IPO. Ather follows Ola Electric which had hit the Indian bourses in August 2024. These are not small SPACs; these are multi-billion market cap IPOs
For all its limitations, air cooling the motor/battery is still the most elegant solution. But are we doing it right or are we still scratching the surface in cooling?
India-based Ola Electric is coming with an IPO. We take a look at how the previously listed E2W manufacturers have done across the world. None seems to be thriving.