New Delhi: Ola Electric is gearing up to launch its new EV 3W (Electric 3-wheeler), tentatively named ‘Raahi’, meaning ‘traveller’ in Hindi, within the next 3-4 months, in this calendar year. These recent spy images suggest that the upcoming Ola EV 3W features a minimalist design aimed at enhancing space and practicality. The vehicle's front profile includes square headlights, a large windshield, A-pillar mounted ORVMs, and doors for cabin safety.
This new launch could be a significant advancement in the segment if Ola opts to include air conditioning in their electric 3-wheelers. Leveraging its technological expertise, Ola Electric plans to equip Raahi with category-first features, offering a more spacious and convenient alternative to existing electric 3-wheelers, as reported by sources close to ETAuto.
Ola EV 3W
It is expected that in addition to the passenger version, a goods carrier variant of the Ola EV 3W will be available, boasting a sizable loading bay that can be customized to meet diverse client needs.
The Ola EV 3W will compete with established players like Mahindra Treo, Piaggio Ape e-city, and Bajaj RE in the electric 3-wheeler market. Ola Electric's development of this vehicle has been part of its broader strategy to enter the commercial vehicle sector.
At present, Mahindra, Piaggio, and Bajaj price their electric auto rickshaws between INR 2.0 lakh and over INR 3.5 lakh, depending on the model and additional features. The Ola EV 3W is expected to be competitively priced, potentially undercutting Bajaj’s electric 3-wheeler, which starts at INR 3.30 lakh, ex-showroom.
According to the government transport website Vahan, over 580,000 electric 3-wheelers were sold last year—a 66% increase from 2022. Electric 3-wheelers accounted for more than 50% of total three-wheeler sales in 2023. Ola Electric's entry into this market, bolstered by its vertical integration in battery, motor, and software technology, could significantly boost the company’s path to profitability.
To solidify position in e2w market
Alongside this new launch, Ola Electric continues to solidify its position in the electric two-wheeler market, where it holds a leadership role. The company has been enhancing its market presence with extended battery warranties, the establishment of fast-charging points, and an expanded service center network. Ola Cabs, leading the ride-hailing sector in India, provides a significant distribution advantage for Ola Electric, allowing the company to leverage group synergies for accelerated EV penetration in the 3-wheeler segment.
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