Ola Electric has achieved a market share of 49 per cent in the month of May 2024 with a total volume sale of 37,191 units
Today, Ola Electric revealed that it has achieved a 49 per cent market share in the month of May 2024, maintaining its lead in the electric two-wheeler segment. The company registered 37,191 vehicle registrations, as per the government’s VAHAN Portal, during the month, driven by the success of its S1 scooter lineup.
The Hosur-based EV startup recently expanded into the volume-based electric scooter segment with the addition of the S1 X model and its deliveries began last month. It comes in three battery configurations: 2 kWh, 3 kWh, and 4 kWh with prices ranging between Rs. 74,999 and Rs. 99,999 (ex-showroom). In addition, the brand has revised the prices of its S1 Pro as well.
The second-gen Ola S1 Pro is priced at Rs. 1,29,999 while the S1 Air costs Rs. 1,04,999, and the S1 X+ at Rs. 89,999 (all prices, ex-showroom). Speaking on the sales performance in May 2024, Anshul Khandelwal, Chief Marketing Officer, Ola Electric Technologies Private Limited, said:
“We continue to lead India’s EV transition efforts in the 2W segment with a leading 49% share in the market and a steady growth in our registrations. We recently commenced the deliveries of our mass-market S1 X portfolio, which addresses the high upfront cost of purchasing an EV, one of the biggest barriers to the adoption of EVs. With our S1 X, we continue to work towards expanding the EV 2W market for overall growth of the industry.”
Ola can be credited with offering lucrative discounts for its models during festive periods and its reach has been expanded in rapid pace over the last several months. Ola Electric currently provides an eight-year/80,000 km warranty on batteries across its entire product line, without any additional charges.
This move aims to tackle a hurdle to EV adoption by enhancing the longevity of the models. Customers have the option to purchase an additional warranty for Rs. 4,999 as it can be extended to one lakh km and up to 1.25 lakh km for Rs. 12,999. Furthermore, Ola Electric has introduced a 3KW fast charger accessory, available for purchase at Rs. 29,999.
