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Ola Electric extends final payment date of S1 and S1 Pro

Our Bureau Bengaluru | Updated on October 21, 2021

The reservations for Ola S1 and S1 Pro remain open with the company website

Ola has extended the final payment date of Ola electric scooters Ola S1 and S1 Pro to start from November 10 along with test rides.

Earlier, the company has said that the delivery of the electric scooters will be at the end of October, and the final payment of S1 and S1 pro was supposed to start from October 18. Now the final payments will start after the customers have taken the test ride, which is starting from November 10.

Ola Electric has said in a statement, “test rides start November 10 and most customers prefer a test ride before paying the balance amount. We’ve aligned the remainder payment with the start of test rides so you can test ride at your convenience and then pay the balance. Be sure, this will have no impact on delivery.”

Purchase window

After taking the test ride, the customers will also have the option to defer their purchase by informing Ola. Earlier, Ola Electric also had to postpone the opening of its purchase window by a week due to a website glitch. Ola claims to have sold over $150 million worth of electric scooters in the span of two days of opening the purchase window. While the purchase window is now closed, the reservations for Ola S1 and S1 Pro remain open with the company website.

Ola had earlier said that they will be reopening the purchase window on November 1, 2021, around Diwali.

Fund raising

In September, Ola Electric raised over $200 million from Falcon Edge, Softbank and others investors, at a valuation of $3 billion. Ola Electric has committed to employ 10,000 women at the company’s manufacturing facility Ola Futurefactory and make it entirely women-run.

Futurefactory

Located in Hosur, Tamil Nadu, Ola Futurefactory is a 500-acre manufacturing unit set up for the production of Ola’s two wheeler EVs. The manufacturing facility is said to have the capacity to produce 10 million electric scooters per year.

Along with the manufacturing plans, Ola Electric also has plans to set up a charging network called Ola Hypercharger Network. The company claims to set up more than 100,000 charging points across 400 cities. However, these charging points would only be accessible to Ola e-scooters. Led by the rise in fuel prices and revised FAME II incentives, two-wheeler EV companies have recorded tremendous growth this year.

Published on October 21, 2021

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