Factors such as the increasing adoption of electric vehicles, rapid development of electric vehicle supply equipment and fast-charging stations are driving the growth of the EV charging cable market.
December 30, 2021
Ola Electric will install more than 4,000 charging points for its electric scooters across India in 2022 as part of its ambitious charging infrastructure goal.
In his recent tweet, Mr. Bhavish Aggarwal, Founder and CEO, Ola stated that Hypercharger rollout has begun across cities. Ola aims to install 4000+ charging points at key BPCL pumps and residential complexes. The company plans to make Hyperchargers operational in 6-8 weeks and it will be free for use till the end of June 2022 for all customers.
It has expanded into advanced two-wheeler electric vehicle manufacturing at its Future factory. It has already begun deliveries of its e-scooters — Ola S1 and S1 Pro — albeit delayed a bit. Ola in April unveiled the Hypercharger Network, a charging network for its upcoming two-wheeler products starting with the Ola Scooter to be launched in India in the coming months.
According to the company, the charging network will be the widest and densest electric two-wheeler charging network in the world, with more than 100,000 charging points across 400 cities. In the first year alone, the company is setting up over 5,000 charging points across 100 cities in India. With this network, the company’s upcoming Ola Scooter can be charged 50 percent in just 18 minutes for a 75 km range.
Also Read: Bosch Launches New Electric Vehicle Cable Without Bulky Charging Brick.
According to a report by Fortune Business Insights — the global electric vehicle charging cables market size was USD 516.6 million in 2019 & is projected to reach USD 1244.3 million by 2027, at a CAGR of 22.1 percent in the forecast period.
