The Roadster, which comes in three variants, is priced at INR 1,04,999, INR 1,19,999, and INR 1,39,999 per unit. The Roadster Pro, which has two battery variants, is priced at INR 1,99,999 and INR 2,49,999 per unit. The Roadster X, with three different battery variants, is priced at INR 74,999, INR 84,999, and INR 99,999 per unit.
Of the three, the Ola Roadster is the one to watch out for. With sleek and modern looks, the Roadster offers futuristic features at a very attractive price. The cheapest of the trio, the Roadster, also comes equipped with dual disc brakes, a 7-inch TFT display, a range of 248 km, and a top speed of 126 km/h. The bikes are fast too—thanks to their 13 kW motor, they can accelerate from zero to 40 km/h in just 2.2 seconds.
What’s more? The company said they include never-before-seen tech in such affordable bikes, like cruise control, navigation, tamper alert, SOS, cornering ABS, and mono-shock rear suspension.
During the launch, Ola's Founder and CMD Bhavish Aggarwal hinted at what the company is aiming for.
"Today, two-thirds of India's two-wheeler market consists of motorcycles, and with Ola's entry into this segment, EV penetration is poised to further accelerate in the Indian 2W segment. We have already been successful in accelerating EV adoption in the scooter segment, and with our futuristic portfolio of products, we are now focused on supercharging EV penetration through our motorcycles. Coupled with the integration of our cells in our vehicles starting early next year, we are determined to chart a new course for mass EV adoption across India," Aggarwal said.
But can the Ola Roadster dethrone the Splendor?
The Hero Splendor has been selling like hotcakes ever since its launch in 1994, back when it was known as the Hero Honda Splendor. According to Hero, the Splendor is the world's No. 1 bike, with over 4 crore users.
With a mileage of over 80 km/l, the Splendor is one of the most fuel-efficient bikes in India. Hero has also smartly introduced different iterations of the bike with added features to appeal to various segments of users.
But now, Ola’s bikes are threatening its hegemony.
However, Charith Konda of Institute for Energy Economics and Financial Analysis (IEEFA) thinks otherwise.
"The Roadster X, priced at INR 74,999 onwards, boasts an impressive range of up to 200 kilometres, making it a compelling contender in the under INR 1 lakh bike segment, poised to disrupt both the conventional and electric bike markets. With features like a TFT display, phone connectivity, drive modes, cruise control, navigation, and reverse mode, it outshines its conventional counterparts in terms of technology. However, it's essential to note that the announced prices are introductory and may not be sustainable as production scales up. Additionally, potential buyers remain uncertain about critical EV aspects such as charging speeds, battery life, and maintenance costs. In contrast, best-selling motorcycles like Hero's Splendor, with decades of proven performance, offer a tried-and-tested alternative in the same price category," says Charith.
Ola's Aggarwal has previously noted that "65% of the overall two-wheeler market is motorbikes, and though electric penetration in the scooter category has already reached 21%, in the bike category it is still at 1%." This is why the company is now targeting the bike market.
And to hit the nail on the head, Ola launched the Roadster at the same price point as the market leader, the Splendor.
With significant savings in fuel costs, the Ola Roadster is expected to appeal to the average Indian. According to Ola, for a daily running distance of about 30 km, one can save about INR 2,200 monthly and about INR 27,000 annually with the Ola Roadster.
However, it remains to be seen whether cost-conscious Indians will take the bait and make the leap into the EV world.
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