According to reports, Ola Electric is planning to launch an electric autorickshaw meant to be sold directly to consumers. The vehicle is expected to be called Raahi, and the company is expected to unveil it later this month.

The electric three-wheeler segment is dominated by the likes of Mahindra Treo, Piaggio Ape e-city, and Bajaj RE. Ola Electric has been working on the product for the past couple of years as part of its plans to enter the commercial vehicle business.

A lot of announcements, including on the gigafactory, are in the works for Ola Electric ahead of the listing. The e-autorickshaw is part of the same plan and internally the target is to do it over the next two weeks or so.

Depending on the model and extras, the electric autorickshaw prices range from Rs 2.0 lakh to upwards of Rs 3.5 lakh. More than 580,000 electric three-wheelers were sold last year, 66 percent more than in 2022, according to government transport website Vahan. In 2023, electric three-wheelers represented over 50 percent of total three-wheeler sales.

A string of launches has been planned in the run up to the initial public offering. A draft red herring prospectus was filed by the firm in December last year, and it is looking to rise up to Rs 5,500 crore through a fresh issue.

The company has been trying to strengthen its position in the electric two-wheeler segment, where it is the market leader, ahead of the IPO.

The company bumped up the battery guarantee for all scooter variations to eight years in February. Ten thousand fast-charging points will be set up by the end of the next quarter, portable fast chargers will be sold to customers, and the service center network will grow from the current 400 to 600 by April. The draft IPO papers also listed a four-wheeled vehicle as an intangible asset under development.