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Ola factory getting ready "double quick"; co to make important announcement on Monday: Bhavish Aggarwal

Ola factory getting ready "double quick"; co to make important announcement on Monday: Bhavish Aggarwal

Ola Electric, which launched Ola S1 electric scooter in two variants last month, postponed the sale of its scooter variants earlier this week till September 15.

Aggarwal took to Twitter to share a picture from the company's upcoming factory in Tamil Nadu. Aggarwal took to Twitter to share a picture from the company's upcoming factory in Tamil Nadu.

Ola chief Bhavish Aggarwal on Sunday said the company's 'Future Factory' is getting ready "double quick" for delivery of its electric scooters and that the company will make an important announcement about the factory on Monday.

Ola Electric, which launched Ola S1 electric scooter in two variants last month, postponed the sale of its scooter variants earlier this week till September 15. Aggarwal said the delay was due to technical glitches in the website which made it difficult for the company to make the sale live.

"I want to apologise to all of you, who had to wait for several hours. The website was just not up to our expectations on quality. I know we have disappointed you and I sincerely apologise to each of you for what was clearly a very frustrating experience," Aggarwal had said.

Ola's electric scooters S1 and S1 Pro are priced at Rs 99,999 and Rs 1,29,999, respectively (ex-showroom including FAME II subsidy and excluding state subsidies).

Also Read: Ola postpones sale of S1 e-scooter till Sept 15

Aggarwal took to Twitter to share a picture from the site of company's upcoming factory in Tamil Nadu. "Factory getting ready double quick for deliveries!!...Also an important announcement on the factory tomorrow," he said.

He also tagged early-stage startup investor Matrix Partners India, its MD Vikram Vaidyantahan and founder and MD Avnish Bajaj. Vaidyantahan and Bajaj had accompanied Aggarwal for his visit to the factory on Saturday.

Ola is setting up its electric scooter facility in Tamil Nadu. In December last year, the company had said it would invest Rs 2,400 crore for Phase 1 of the factory. The facility, which is coming up on a 500-acre site, will be the world's largest two-wheeler factory, producing 10 million vehicles annually at its full capacity.

Ola Electric had opened pre-launch bookings of its electric scooters in July for Rs 499 and had received 1 lakh orders in just 24 hours. However, the company has not disclosed how many orders it has received so far.

The scooter comes in 10 colours with in-house developed 8.5 KW motor and 3.97 kWh battery packs.

Also Read: Ola Electric partners banks, financial institutions for loans to customers for its e-scooter