According to an exclusive ETAuto report, OLA Electric is all set to launch its new Electric 3-wheeler (EV 3W) by the end of this year. Ola EV 3W has been tentatively named ‘Raahi’, which in Hindi means ‘traveller.’
Features of ‘Rahi’
Recent spy images indicate the upcoming Electric 3-wheeler has been designed practically with minimalist features to enhance space. The front profile of the vehicle has a large windshield, square headlights, A-pillar mounted ORVMs, and safety doors for the cabin.
According to an ETAuto report, the company also plans to incorporate air conditioning in the vehicle. Rahi would have category-first features to make it more spacious and convenient in comparison to the existing electric 3-wheelers in the market. In addition to the passenger version, the Ola EV 3W will also have a goods carrier variant that would support a sizable loading and can be customized to meet client needs.
Rahi will compete with the existing brands, for instance, Mahindra Treo, Bajaj RE, and Piaggio Ape e-city in the electric 3-wheeler market.
OLA’s planned move into the electric 3-wheeler market?
OLA Electric’s new vehicle is a part of its strategy to enter the commercial vehicles market.
Currently, the price of electric rickshaws from Mahindra, Bajaj, and Piaggio ranges between INR 2.0 lakh and over INR 3.5 lakh. The price varies according to the model and additional features available. Ola EV 3W, assumingly, is going to be competitively priced, potentially charging lower than Bajaj’s electric 3-wheeler, which starts at INR 3.30 lakh.
Booming market of electric 3-wheelers in India
India government’s transport website Vahan has disclosed that last year itself, over 580,000 electric 3-wheelers were sold. Reportedly, it is a 66% increase from 2022. Electric 3-wheelers accounted for over 50% of total three-wheeler sales last year in the country. Now, Ola Electric is entering this already booming market, fortified by its vertical integration in features like battery, motor, and software technology.
It is to be seen whether Ola Electric could compete with the prevalent players or not. For the time being, it could be said the company is aiming for a high road to profitability.