Ola electric scooter will be launched on August 15 on Independence Day, founder Bhavish Aggarwal said. “Thanks to all who have pre-booked our scooter! Planning a launch event for the Ola Scooter on 15th August. Will share full specs and details on product and availability dates. Looking forward to it!” Aggarwal tweeted today.

The scooter will be available in 10 colours, including blue, black, white, grey and shades of red and yellow. Ola Electric opened bookings for its electric scooter for a refundable deposit of Rs 499 on July 15. After some days, it declared that it had received over 1 lakh bookings in the first 24 hours.

On the record-setting bookings, Aggarwal said that it was a significant step in transforming electric vehicles and that it is only the beginning. Ola is all set to make a 500-acre factory in Tamil Nadu’s Krishnagiri to construct one crore vehicles per year, which will make it the world’s largest two-wheeler factory. It recently borrowed $100 million in long term debt from the Bank of Baroda to develop its factory.

• IIT Bombay Sets Up Rs 100 Crore Venture Capital Fund for Startups 
• Tata Power Inks MoU with Asian Development Bank for $4.25 Billion 
• Innovators Facade Shares Skyrocketed 11% on Securing Orders Worth Rs 110 Crore 
• Stocks in Focus: SJVN, Tata Power, Afcons Infrastructure, and Others
• Stocks Under F&O Ban: Adani Enterprises, Aarti Industries, Indraprastha Gas, and Others 

Recently, Aggarwal also requested Tesla founder Elon Musk to build and not just import in India following the “Make in India” concept, and tweeted that he completely disagrees with Hyundai and Tesla. They asked for lower duties in India on imported electric vehicles.