Ola Electric to launch S1X electric scooter on August 15
Ola, the company that just introduced the S1 Air electric scooter, is getting ready to release another one called the S1X. This new electric scooter will be available in the Indian market soon.
At a starting price of less than Rs 1 lakh, it is anticipated to be an entry-level model. On August 15, the day of Independence, Ola is anticipated to introduce the S1X.
Ola has not provided any information regarding the S1X, however, it is rumored to have a range of roughly 100 kilometers. The electric scooters S1, S1, and S1 Air are currently available from Ola. The S1 family offers cutting-edge technology, unmatched performance, and a clean, minimalistic style.
The freshly released S1 Air features cutting-edge technology and design cues carried over from the S1 and S1 Pro. It has a certified range of 125 km, a 3 kWh battery capacity, and a top speed of 90 km/h.
The media reported on Saturday that Ola Electric has had two further top-level exits as it prepares for an initial public offering (IPO) in early 2024.
Ola Electric’s operating loss was $136 million (approximately Rs 1,116 crore) and revenue was $335 million (about Rs 2,750 crore), falling short of the revenue target that was made public.
According to media reports citing sources, the business announced sales of over 1,50,00 electric scooters for FY23. Ola Electric asserted that it exceeded Rs in the first two months of FY23.
Ola Electric stated that it has generated more than Rs 500 crore in revenue in the first two months of FY23 and was on target to reach $1 billion by year’s end.
According to a previous TechCrunch story, big US asset manager Vanguard has further reduced its position in the dominant ride-hailing company Ola by more than half, bringing Bhavish Aggarwal’s valuation down to around $3.5 billion from $7.3 billion at the end of 2021.
According to a previous TechCrunch story, large US asset manager Vanguard has further reduced its position in the dominant ride-hailing business Ola by more than half, bringing its valuation down from $7.3 billion at the end of 2021 to roughly $3.5 billion today.