Watch: India’s two wheel r‘EV’olution
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India’s electric scooter market seems set for disruption. The country currently sells only 150,000 electric two-wheelers a year, which is less than 1% of the total market. But that is about to change with Ola entering the segment with a mega factory.
At its full capacity of 10 million units by next year, Ola’s Future Factory will roll out one e-scooter every two seconds. Once completed, the 500-acre factory—the world’s largest two-wheeler plant—will account for 15% of the world’s two-wheeler production. Ola’s e-scooter, which will launch in June, is likely to be priced below ₹1 lakh.
July 2025
In the world’s youngest nation—where over 65% of the population is under 35—India’s future is already being shaped by those bold enough to lead it. From boardrooms to breakout ideas, a new generation of business leaders is rewriting the rules. This year's Fortune India’s 40 Under 40 celebrates these changemakers—icons in the making like Akash Ambani, Kaviya Kalanithi Maran, Shashwat Goenka, Parth Jindal, Aman Mehta, and Devansh Jain—who are not just carrying forward legacies but boldly reimagining them for a new era. Alongside them are first-generation disruptors like Sagar Daryani, scaling Wow! Momo with a vision to take ₹100 momos to 5,000 cities, and Palak Shah, turning the Banarasi weave into a global fashion story with Ekaya Banaras. These are the entrepreneurs turning ambition into scale. And even beyond traditional industry, the entrepreneurial wave is pulling in creative forces—Ranveer Singh, for instance, is shaking up wellness and nutrition with Bold Care and SuperYou, proving that passion, backed by purpose, is the new blueprint for building brands.
Ola’s closest rivals, in terms of price, are likely to be Naveen Munjal-led Hero Electric, the market leader, and Okinawa. The price of the Photon, the flagship e-scooter from Hero Electric, tops out at about ₹73,000, less than the price of Honda’s fuel-powered Activa, India’s top-selling two-wheeler. Okinawa’s portfolio of six e-scooters costs between ₹50,000 and ₹1.14 lakh.
Will Ola’s move disrupt the electric vehicles space? Watch the show.
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