Made in India · Electric Mobility
The Scooter That Made India Take EVs Seriously
How Ola Electric went from a startup idea in 2017 to India’s largest EV manufacturer — and what it’s building next with Bharat Cells, rare-earth-free motors, and electric motorcycles.
9L+
Units Sold (Cumulative)
₹5,009Cr
Revenue FY24
4,000+
Retail Stores
500 Acres
Futurefactory, Tamil Nadu
Think about the last time you saw a bright orange scooter silently zip through your colony. No engine noise. No petrol smell. Just movement. That scooter was almost certainly an Ola S1.
Since entering the market in late 2021, Ola Electric has done what few Indian startups manage: it didn’t just disrupt a market- it created one. In three years, it took the electric two-wheeler segment from a niche curiosity to a mainstream choice, capturing over a third of all EV two-wheeler sales in India at its peak.
This is the full story- where Ola Electric came from, what it makes, why its factory is unlike anything else in Indian manufacturing, and what it’s betting on next.
The Brand Story
From a Bengaluru Startup in 2017 to India's Largest EV Manufacturer
Ola Electric didn’t begin as an auto company. It started as a vision — that India deserved an electric vehicle built entirely in India, priced for Indian roads, and designed for Indian conditions.
Bhavish Aggarwal, co-founder of the Ola cab-hailing platform, spun off Ola Electric in 2017 with a singular mission: #EndICEAge. The internal combustion engine, in Aggarwal’s telling, is not India’s future. Clean, electric mobility is.
Ola Electric founded in Bengaluru
Spun off from Ola Consumer by Bhavish Aggarwal. Initial focus: electric mobility solutions for India.
Futurefactory announced & built
500-acre facility in Krishnagiri, Tamil Nadu commissioned at ₹2,400 crore. Constructed in just 8 months. Run entirely by women — the world’s only all-women automotive manufacturing facility.
S1 & S1 Pro launched
5 lakh bookings in the first month. Deliveries begin in December 2021 in Bengaluru and Chennai.
Market leadership achieved
Ola becomes India’s #1 electric two-wheeler brand. Gigafactory construction begins in Krishnagiri for 4680 lithium-ion cell production.
IPO on NSE & BSE
Ola Electric goes public in August 2024, raising ₹5,500 crore. Revenue for FY24 reaches ₹5,009 crore. Over 4 lakh units sold in calendar year 2024.
“India Inside” vision unveiled
Ola unveils domestically made 4680 Bharat Cell batteries, rare-earth-free motors, Roadster X electric motorcycles, and 12+ new vehicle models planned across categories.
The 2024 IPO is the inflection point that most people missed. Ola Electric is not a startup hobby anymore — it is a listed public company building India’s first large-scale battery cell manufacturing ecosystem, competing directly with global supply chains from China, Japan, and South Korea.
Product Range
What Ola Electric Actually Makes- It's More Than One Scooter
Most people know Ola Electric for the S1 scooter. That’s fair- it’s the product that built the brand. But the portfolio is expanding fast, especially into motorcycles, battery cells, and software.
Scooters
- S1 X (Entry)
- S1 X+
- S1 Pro
- S1 Pro+
Motorcycles
- Roadster X
- Roadster X+
- 12+ Models Planned
Battery Tech
- 4680 Bharat Cell
- 1.4 GWh Capacity
- 5 GWh Target FY27
Software
- MoveOS+
- AI-powered Drive Modes
- OTA Updates
Charging
- Ola Hypercharger Network
- Home Charger Units
- DC Fast Chargers
Motors
- HRE-free Motors (2025)
- No Heavy Rare Earth Import Dependency
The jump into battery cell manufacturing and rare-earth-free motors is not marketing. It reflects a strategic decision to build technology independence- not relying on Chinese or Korean supply chains for the components that determine EV cost and range.
“Our Gigafactory will be a major milestone in India’s electrification journey — bringing us closer to making India a global EV hub.”
-Bhavish Aggarwal, Founder & CEO, Ola Electric
Why Customers Trust Ola Electric
Three Reasons India’s EV Buyers Keep Choosing Ola
| Advantage | Details |
|---|---|
| Lowest Total Cost of Ownership | Ola’s vertical integration strategy allows it to manufacture motors, battery cells, and software in-house. This helps keep costs competitive, with the S1 X starting below ₹80,000, making EV ownership more affordable for everyday buyers. |
| Software-First Scooter Experience | Ola scooters run on MoveOS, an operating system that receives regular over-the-air updates. New features, ride modes, and performance enhancements can be added without visiting a service center. |
| Hypercharger Network Reach | The company has built one of India’s largest EV charging ecosystems, supported by a retail network of more than 4,000 stores. This infrastructure helps reduce range anxiety and supports wider EV adoption across the country. |
The Scale That Defines Ola's Position
One factory. One number. One milestone that puts Ola Electric in a league of its own in Indian manufacturing.
9,17,889
Units sold cumulatively by June 2025 — first Indian e-2W brand approaching 10 lakh total sales
#1
Largest EV manufacturer outside China
10,000+
Women employed at Futurefactory
3,000
Robots on the shop floor
200+
Cities with Roadster X availability
| Brand | Market Share (mid-2025 est.) | Retail Stores | Own Cell Manufacturing |
|---|---|---|---|
| Ola Electric | ~20% (recovering) | 4,000+ | Yes – 4680 Bharat Cell |
| TVS iQube | ~18% | ~3,500 | No |
| Ather Energy | ~15% | ~2,000 | No |
| Bajaj Chetak | ~14% | ~3,000+ | No |
| Hero Vida | ~10% | ~2,000+ | No |
Brand at a Glance
Ola Electric- The Numbers That Matter
| Founded | 2017, Bengaluru (as Ola Electric Mobility) |
| Founder & CEO | Bhavish Aggarwal |
| Listed On | NSE: OLAELEC | BSE: 544225 (IPO August 2024) |
| Market Position | India’s Largest Electric Two-Wheeler Manufacturer |
| Manufacturing | Futurefactory, Krishnagiri, Tamil Nadu (500 acres) + Gigafactory (115 acres) |
| Annual Revenue | ₹5,009 Crore (FY24) |
| Cumulative Sales | 9 Lakh+ units (as of June 2025) |
| Retail Network | 4,000+ Stores across India |
| Battery Technology | 4680 Bharat Cell (India’s first large-scale domestic EV cell) |
| Motor Technology | Heavy Rare Earth-free motors (announced 2025) |
| Key Investors | SoftBank (17.83%), Tiger Global (4.90%) |
| Futurefactory Workforce | 100% women — world’s only all-women automotive factory |
| Official Website | olaelectric.com |
Final Thoughts
Ola Electric has emerged as one of the most influential companies in India’s electric mobility revolution. By combining affordable electric scooters, software-driven innovation, domestic manufacturing, and an expanding charging ecosystem, the company has helped accelerate EV adoption across the country.
Although competition in the electric two-wheeler market continues to intensify, Ola’s investments in battery technology, advanced manufacturing, and connected vehicle platforms position it as an important player in India’s transition toward sustainable transportation. The company’s future success will depend on its ability to scale efficiently while maintaining product quality and customer satisfaction.
For readers interested in exploring other innovative Indian brands, check out Bajaj Electricals, Ultraviolette Automotive, and our guide to the Best Indian TV Brands.
Official Website:
Ola Electric
FAQs
When was the company established?
Founded in 2017, the company is headquartered in Bengaluru and focuses on electric mobility, battery technology, and connected vehicle solutions.
What vehicles are currently available?
Its portfolio includes electric scooters such as the S1 X, S1 X+, S1 Pro, and S1 Pro+, along with the Roadster X motorcycle series.
Is it listed on the stock market?
Yes. The company became publicly listed in August 2024 and its shares trade on both the NSE and BSE.
What makes the 4680 Bharat Cell significant?
It is a domestically developed lithium-ion battery cell designed to strengthen local EV manufacturing and support India’s battery ecosystem.
How does MoveOS work?
MoveOS is a smart vehicle operating system that delivers over-the-air updates, new features, performance improvements, and software enhancements remotely.
