Ola Electric, the electric vehicle manufacturing arm of ride-hailing giant Ola, is considering a new way of generating revenue from its electric scooters. The company’s co-founder and CEO, Bhavish Aggarwal, has hinted that he is thinking of charging a subscription fee for the cruise control feature on the scooters.
What is cruise control and why is it useful?
Cruise control is a technology that enables the rider to maintain a consistent speed without continuous accelerator input. This can help reduce fatigue, improve fuel efficiency, and enhance safety on long-distance rides. Cruise control is usually found in premium cars and bikes, but Ola Electric has integrated it into its affordable electric scooters.
How did Aggarwal reveal his plan?
Aggarwal shared a post containing a video on social media platform X (Previously known as Twitter), showing a man riding an Ola Electric scooter at a constant speed, which is essentially a cruise control technology onboard the electric scooters.
He wrote in his post, “Thinking of charging a subscription fee for cruise control after seeing this.” This sparked speculation about the forthcoming pricing model for the feature.
How will this impact the customers and the market?
It is unclear how much the subscription fee will be and when it will be implemented. The company has not made any official announcement on this matter yet. However, some customers may not be happy with the idea of paying extra for a feature that they already have on their scooters. On the other hand, some may appreciate the option of having cruise control as an add-on service.
The move could also influence other automakers, especially in the electric vehicle segment, to explore alternative revenue streams beyond vehicle sales. As technology advances shape the automotive industry, manufacturers are increasingly looking for innovative ways to monetize their products and services.
What are Ola Electric’s current and future offerings?
Ola Electric currently sells three different electric scooters: S1 Pro, S1 Air, and S1 X. The scooters have a range of 181 km, 121 km, and 240 km respectively, and can be charged at home or at Ola’s Hypercharger network. The scooters also come with features like a touchscreen display, voice assistant, navigation, and remote locking.
The company is also planning to enter the electric motorcycle and electric car segments in the near future. It has already revealed four concept electric bikes earlier this year, which are slated to launch in the market over the next few years. The company is also reportedly working on its first electric car, which could be unveiled next year.