Ola Electric captures over 52 per cent market share

Ola Electric has captured over 52 per cent market share in the EV two-wheeler segment in April 2024. According to the Vaahan portal, the company recorded 34,000 registrations during the month, and recorded a year-on-year (yoy) growth of 54 per cent over the corresponding month last year.

Ola Electric recently entered the mass-market segment with new prices for its S1 X portfolio. The scooter, available in three battery configurations (2 kWh, 3 kWh, and 4 kWh), now comes at ₹69,999 (introductory price), ₹84,999, and ₹99,999 respectively. The deliveries are set to begin soon.

The company also updated the prices of its premium models S1 Pro, S1 Air and S1 X+ to ₹1,29,999, ₹1,04,999 and ₹84,999 respectively.

“It has been a phenomenal start to FY25, with our market share crossing the 52 per cent mark in the 2W EV segment. Thanks to our wide scooter portfolio, we recorded our second all-time-high registrations in the month of April,” said Anshul Khandelwal, Chief Marketing Officer, Ola Electric Technologies Private Ltd.

“Our robust cost structures and vertically-integrated manufacturing capabilities have collectively contributed to this uptick in our market share. With the deliveries of our mass-market S1 X portfolio starting soon, we are all set and excited to enter the mass-market 2W EV segment in India,” he added.

Ola Electric also provides an eight-year/80,000 km extended battery warranty across its entire product line at no additional charge which, as per the company, aims to address a key barrier to EV adoption by prolonging vehicle lifespan. Customers can further enhance coverage with add-on warranties, extending mileage limits to one lakh km for ₹4,999 or 1.25 lakh km for ₹12,999. Additionally, Ola Electric now offers a 3KW fast charger accessory priced at ₹29,999 for purchase.

Inputs from bl intern Vidushi Nautiyal

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