Declaring war on the continent’s mistakes?… What is a 1.15 million won motorcycle?

What country is China most afraid of?

Experts say it is neither the United States nor Korea, but India. This is because they are churning out products at a cheaper price than China with their excellent brains and cheap labor.

‘Ola Electric’, known as India’s Tesla, is considered a representative runner.

According to the Indian electric vehicle industry on the 5th, Ola Electric’s S1 series electric scooter surpassed 500,000 units sold this month, two years and six months after its launch.

The secret to the storm is price destruction. Ola Electric’s flagship electric scooter, the S1 series, is sold for between 70,000 and 130,000 rupees. In Korean money, it costs only 1.15 million to 2.14 million won.

You can buy a motorcycle for the price of an iPhone.

Performance is also excellent. The flagship model, the S1 Pro, has a driving range of 200 km and a top speed of 120 km/h. The instrument panel is equipped with a large full-color screen like Tesla.

Ola Electric was founded in 2017 by CEO Bhavish Argarwal, who is called ‘India’s Elon Musk.’ He founded Ola Group in 2010 when he was 26 years old.

As of October last year, Ola Electric’s corporate value reached $5.4 billion (7.4 trillion won). Japan’s Softbank and Singapore’s sovereign wealth fund Temasek are major investors.

We plan to raise $500 million (approximately KRW 680 billion) by listing on the Indian stock market within this year.

Ola Electric takes on seemingly impossible goals.

Ola Electric says it will manufacture the batteries it purchases from Korea and other countries. A company official said, “We are rotating our battery development staff in three shifts.”

We are also developing electric vehicles. It will be released as early as next year. The industry predicts that it will be a luxury electric vehicle with a 0-100 km/h speed of 4 seconds and a range of 500 km.

It is reported that the price will be set at 1.5 to 2.5 million rupees (25 to 41 million won). It comes at half the price of the basic model of Xiaomi’s electric car SU7 (around 40 million won).

India is also catching up with China in the semiconductor, display, and software fields. We can replace China’s low-cost offensive based on cheap labor and dexterity.

An expatriate in India said, “India’s labor competitiveness surpasses that of China,” and “If you have an Indian as a team leader, he will produce results even if he has to work his subordinates like slaves.”

Reporter Park Ui-myung [email protected]