The CEO of Ola Electrical mentioned Monday his agency would launch an all-electric car that may go from 0 to 100 kilometers per hour (simply over 62 mph) in 4 seconds, because the race to realize a foothold in India’s fledgling EV sector intensifies.

In a video presentation, Bhavish Aggarwal supplied up quite a lot of particulars concerning the Indian-built car, which will likely be its first electrical automobile.

It might, he mentioned, have a spread of over 500 kilometers per cost (round 310 miles), an all-glass roof, and assisted driving functionality. The EV would even be keyless and “handle-less.” The corporate plans to launch the car in 2024.

“World automakers suppose that the Indian market is just not prepared for world-class know-how and, therefore, promote their hand-me-down tech in India,” he mentioned. This wanted to be modified, he added.

Monday additionally noticed Aggarwal announce plans to develop what he known as a “full-EV hub” by increasing the corporate’s “Futurefactory” in Tamil Nadu state, which at present focuses on the manufacturing of two-wheel electrical automobiles.

At full scale, he mentioned the prolonged facility would produce 1 million automobiles, 10 million two-wheelers and 100-gigawatt hours of cells every year. “This … reimagined Ola Futurefactory goes to be the world’s largest EV ecosystem at a single web site,” Aggarwal mentioned.

Ola Electrical is the EV arm of ride-hailing agency Ola, which was established in 2011. Each Ola and Ola Electrical have attracted funding from SoftBank Group.

India, which is on observe to develop into the planet’s most populous nation subsequent 12 months, is one thing of an untapped market relating to electrical automobiles, lagging behind China, the European Union and the U.S.

“In Brazil, India and Indonesia, fewer than 0.5% of automobile gross sales are electrical,” the Worldwide Vitality Company’s World EV Outlook notes.

Ola’s enterprise into India’s electrical automobile market will see it compete with Tata Motors and Mahindra Electrical Mobility, amongst others. In accordance with the IEA, Tata’s Nexon BEV SUV was India’s best-selling electrical automobile in 2021.