Ola Electric’s Production Temporarily paused for upgrades at its Futurefactory in Pochampalli, Tamil Nadu. This temporary pause is intended to make the scheduled process of expanding capacity and upgrading equipment easier, as the facility had about 4000 electric scooters. The production is scheduled to resume on August 29, 2023, after being temporarily closed from August 24th to 28th.
According to sources familiar with the matter, Ola Electric has temporarily suspended production at its Futurefactory in Pochampalli, Tamil Nadu. This pause is necessary to facilitate scheduled capacity expansion and equipment upgrades. A note has been circulated to all employees of the company informing them that all shops will be closed from August 24th to August 28th, 2023. As per the circular, it has been stated that the factory administration, security, and HR teams will remain operational throughout the mentioned period. Production work will resume in all three shifts starting from 6 am IST on August 29th, 2023.
The company temporarily paused production on July 21, 2022 due to the need for maintenance and the installation of advanced machinery. As per the official source report, the production paused in Futurefactory was primarily attributed to excessive inventory accumulation. There were approximately 4000 electric scooters stacked up at the Futurefactory by Ola Electric.
On August 15, 2023, Ola Electric introduced its newest and most affordable offering, the S1 X. This entry-level electric vehicle is available in three enticing variants, with prices starting as low as INR 89,999 for the 2 kWh variant. The mid-spec variant comes with a bigger 3 kWh battery, which is priced at INR 99,999.
The S1 X+, priced at INR 1,09,999, offers the best-in-class experience and comes with exclusive connectivity features. On the same day, the company unveiled four exciting concept electric motorcycles named Diamondhead, Adventure, Cruiser, and Roadster. What’s more, they have now started accepting pre-reservations for these bikes. The launch is anticipated to occur by the end of 2024.
Ola Electric CEO Bhavish Aggarwal said in a statement, “We are working on mid-level and entry level motorbikes. We are in the process of ramping up our capacity. We have a strong balance sheet to fund this. We have internal accruals from our existing products, which are profitable.”
Despite the temporary halt in production for upgrade, the company has recently started delivering the highly anticipated S1 Air, which was first launched earlier this year, on August 24, 2023. Reportedly, the electric scooter has already received more than 50,000 bookings, which is a remarkable achievement.