Ola Electric Records 54 Percent YoY Growth with 34,000 Unit Registrations in April 2024

Published On: 1 May 2024
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Ola CEO Bhavish Aggarwal announced that the brand acquired a 52 percent market share in the electric two-wheeler segment in April 2024.

Ola Electric recorded 34,000 registrations in April 2024, marking a significant 54 percent surge in volumes over the same month of 2023, according to the Vahan registration portal. The EV maker continues to hold a leading position in the electric scooter segment and rivals the likes of Ather Energy, Bajaj, TVS, and more.

Ola CEO Bhavish Aggarwal announced that Ola Electric acquired a 52 percent market share in the electric two-wheeler segment in April. The brand registered its all-time high number of registrations for the second time in the month of April. Ola is expecting the registration volumes to go even higher as it is all set to begin the delivery process of the Ola S1 X, marking the product's entry into the mass-market electric two-wheeler sector.

The Chief Marketing Officer at Ola Electric, Anshul Khandelwal, said, “It has been a phenomenal start to FY25, with our market share crossing the 52 percent 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. 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."

The EV maker is continuously trying to maintain its products' competitive pricing to compete with other manufacturers. Recently, the company reduced the price of the S1 X range in India. After the price revision, the 2-kW option now comes at a starting price of INR 69,999 (ex-showroom). The Ola S1 X 3 kWh is available at a price of INR 84,999 (ex-showroom), while the S1 X 4 kWh is priced at INR 99,999 (ex-showroom). Ola will commence deliveries in the coming months.

In the Indian market, the Ola S1 X+ comes at a price tag of INR 84,999, while the S1 Pro is priced at INR 1.30 lakh. On the other hand, the Ola S1 Air price starts at INR 1.05 lakh. (All prices are ex-showroom). In addition, Ola has launched an 8-year/80,000-kilometer extended battery guarantee for the whole range at no additional cost. By paying an additional amount of INR 2,999, one can extend the warranty to 1.25 lakh kilometers.