Ola Electric is strategically entering the gig economy market with the launch of its new range of budget-friendly electric scooters priced under Rs 40,000. As the gig economy in India is expected to double in the coming years and touch over 10 million workers, Ola Electric will offer affordable and reliable transportation options for this growing workforce.
The company’s newest model is the Ola Gig at Rs 39,999, which is specifically meant for gig workers who conduct most of their work with shorter trips. Additionally, the Ola S1 Z series is available starting at Rs 59,999. On social media, Ola Electric’s CEO Bhavish Aggarwal said, “The S1 Z remains the same as the S1 but at a much more affordable price point as more people need quality, affordable vehicles as the gig economy expands very fast.”.
The newly announced variants are Ola Gig, Ola Gig+, Ola S1 Z, and Ola S1 Z+, and will target different user segments – gig workers, urban commuters, and small business owners.
Deliveries of the Ola Gig and Gig+ are scheduled to begin in April 2025, while the Ola S1 Z and S1 Z+ will be available from May 2025. The scooters can be booked with an advance payment of Rs 499. Speaking to ET, Kripa Ananthan, head of design at Ola Electric, said, “The new models have been priced competitively; 50-60% lesser than similar offerings in the market, and they are very specifically designed for gig workers.” This competitive pricing is expected to help support a substantial increase in demand as the gig workforce grows.
Ola’s Gig scooters will compete with models like Yulu’s Wynn and Kinetic Green’s Zing Big B, priced in the same range but with lower performance specifications. The Ola Gig offers an IDC-certified range of 112 km and a top speed of 25 km/h. In contrast, the Ola Gig+ offers improved range and payload capacity, available with either a single or dual battery setup. It provides a range of 81 km (157 km with dual batteries) and has a top speed of 45 km/h. Ola S1 Z, priced at Rs 59,999, is designed for urban commuters, students, and seniors with a dual 1.5 kWh removable battery, which has a range of up to 146 km. The Ola S1 Z+, priced at Rs 64,999, is targeted towards the small business owner and commercial users with similar performance as the S1 Z.
Ola Electric has finally positioned itself for growth by rising in market share once more, at 31%, in October, led by strong festival season sales along with improved delivery metrics. That comes in contrast to rivals, such as Bajaj Auto and TVS Motor that hold smaller shares of what is rapidly evolving as one of the fastest electric scooter markets.
