When compared to the same month in 2023, Ola Electric’s June 2024 registrations jumped by a whopping 107% year over year. The business registered 36,716 vehicles in June, according to data from the government’s VAHAN Portal, giving it a dominant 46% market share in the electric two-wheeler (EV 2W) industry. In addition, a recent press release from the corporation stated that over 108,000 registrations were registered in the quarter ending in June 2024—a noteworthy 57% increase over the first quarter of Fiscal Year 2024. Furthermore, with over 228,000 registrations to date, Ola Electric became the first EV 2W firm to surpass 200,000 registrations in the calendar year 2024.
Chief Marketing Officer of Ola Electric Technologies Private Limited Anshul Khandelwal stated, “We have led the market in the EV 2W segment for seven consecutive quarters.” Our sustained leadership is evidence of the quality of our broad S1 portfolio, which provides goods at a range of appealing price points, enabling a wide range of people to purchase electric vehicles. We are still dedicated to spearheading India’s shift to electric vehicles and fostering the expansion of the sector as a whole.
Six versions of Ola Electric’s broad S1 product line are tailored to different customer needs in terms of pricing and range. With the launch of the S1 X portfolio, which features models with three distinct battery sizes (2 kWh, 3 kWh, and 4 kWh), the firm has just entered the mass-market area. The models are priced at INR 74,999, INR 84,999, and INR 99,999, respectively. The S1 Pro, S1 Air, and S1 X+, which retail for INR 1,29,999, INR 1,04,999, and INR 89,999, respectively, are part of the premium sector.
Moreover, Ola Electric offers an 8-year/80,000 km extended battery warranty for its full range at no additional cost, which the company believes will help overcome one of the main hurdles to EV adoption by enhancing the longevity of the vehicles. Additionally, customers can increase the mileage limit to 100,000 km for INR 4,999 or 125,000 km for INR 12,999 by purchasing an additional warranty. Additionally, Ola Electric has introduced a 3KW fast charger, available for purchase at INR 29,999, further enhancing the convenience for EV users.
