Ola Electric announced on Thursday its intention to expand into international markets starting with Nepal. The company announced that it has signed a memorandum of understanding with CG Motors in Nepal, combining them as local distributors for its Ola S1 scooters (S1 and S1 Pro).
The scooters will be available in Nepal from next quarter, the Bengaluru-based electric two-wheeler maker said in a statement.
In the second phase, the company also aims to enter Latin America, ASEAN and the European Union, increasing the company’s presence in up to five international markets.
“Our international expansion not only means that we as a company will be able to serve customers in these similar regions, but it is also a testament to the fact that India will be leading the electric vehicle revolution in the world,” said Ola Founder and CEO Bhavish Aggarwal. .
To really take the electric vehicle revolution to the next level, India will have to be the epicenter of change, he added.
The company recently unveiled a project for electric four-wheelers. Earlier this week, Reuters reported that Ola would cut around 200 engineering jobs to reduce layoffs in its two main businesses of carpooling and electric vehicle manufacturing. The company said it is focusing on being a “vertically integrated mobility company” and centralizing operations to build a structure to strengthen relevant roles and functions.
Ola plans to grow its engineering workforce to 5,000 over the next 18 months, from about 2,000 currently, as part of a “hiring influx” for positions in vehicle engineering, procurement , product management and data science, according to the report.