On Friday, Ola Electric revealed that it has generated over Rs 500 crore in revenue in the first two months of FY 22-23 and that it was still on track to surpass the $1 billion mark by the end of the year. Having delivered the S1 Pro electric scooter to more than 50,000 clients nationwide and now turning its attention to the S1 electric scooter as its second model, the company claims it is optimistic about the future.
At its factory in Tamil Nadu, Ola Electric has been stepping up output while also improving its delivery strategy. The company does not have any dealerships, and despite complaints regarding delivery times from a number of clients who made online reservations for units, the company nevertheless touts its ever-expanding capabilities. According to a company representative quoted in an Ola Electric press release, as consumer confidence in EVs grows, the company's future prospects look even more promising. At the Ola Futurefactory in Krishnagiri, we have also been successful in streamlining our production capacity to 1,000 units per day. We will continue to scale up because we have a healthy order pipeline.
However, Ola Electric is also considering expanding its field of play with ambitions to introduce an electric automobile in the near future, even as it works to improve its production and delivery procedures. Additionally, the business has previously stated that it is working on creating autonomous driving technologies.