Ola Electric is gearing up to shake up a new segment with its newest venture — an electric autorickshaw named Raahi, poised to make its debut later this month, the Economic Times reported.
What Happened: This move marks Ola’s bold step into the country’s electric three-wheeler market, setting the stage for a clash with established players like Mahindra Treo, Piaggio Ape e-city, and Bajaj RE.
With Raahi, which translates to ‘traveller’ in Hindi, Ola Electric aims to offer a green alternative directly to consumers, broadening its portfolio in anticipation of its public listing.
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The buzz around Raahi is just the tip of the iceberg. Ola Electric is revving up for a series of big announcements, including details about its much-anticipated gigafactory.
Why it matters: These revelations are timed perfectly as the company prepares for its initial public offering (IPO), aiming to raise a hefty sum to fuel its ambitious plans. The launch of Raahi aligns with Ola’s broader strategy to cement its position in the electric vehicle (EV) market, especially before hitting the stock market with a target to gather up to ₹5,500 crore.
The company has already made waves in the electric two-wheeler segment and is on a mission to enhance its offerings — from extending battery warranties to setting up a vast network of fast-charging stations.
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