Bengaluru, October 31, 2023: Ola Electric, India’s largest EV company, today announced its sales performance for the month of October. The company registered ~24,000 units (as per Vahan data) during the month and dominated the EV category with a market share of almost 35%. With an impressive 2.5X growth in sales during Navratri & Dussehra (compared to the same period last year), Ola expects the sales momentum to continue throughout the festive season with an uptick in volumes during the upcoming months.
Commenting on this, Anshul Khandelwal, Chief Marketing Officer, Ola, said, “The festive season has been incredible for EVs and we have seen a strong uptick in sales during Navratri and Dussehra. The ongoing Ola Bharat EV Fest with exciting festive offers and a much broader portfolio of Ola scooters has led to Ola becoming the favourite choice for customers during the festive season. With Diwali around the corner, we expect the sales momentum to further build-up, leading to a milestone year for EVs in India.”
During the month, Ola Electric achieved yet another remarkable milestone selling more than 2,00,000 electric scooters within 10 months (as per Vahan data) of the Calendar Year 2023, becoming the first-ever EV company in India to achieve the feat. The company has registered over 100% growth vis-a-vis last year when it recorded 1 lakh sales in just 10 months of starting its operations.
Ola announced the month-long Ola Bharat EV Fest on October 16, a nationwide celebration of embracing EVs with an array of exciting offers, including a 5-year Battery Warranty (worth up to ₹7,000*), exchange bonuses (up to ₹5,000*), and finance offers including up to ₹7,500* discount from partner banks, zero down payment, no-cost EMI, zero-processing fee, and interest rates as low as 5.99%.
Moreover, customers test-riding an Ola scooter during the festive period can get a chance to win one S1 X+ every day among other exciting prizes, including discount coupons for Ola Care+ and instant discounts on the purchase of the all-new S1 Pro (2nd Generation). The company is also offering an extended ‘5-Year Battery Promise’ program to scooters across its existing lineup (S1 Pro, S1 Air, and S1 X+), providing a free 5-year extended battery warranty.
Priced at INR 1,47,499, S1 Pro (2nd Generation) deliveries commenced in more than 100 cities this month while the S1 Air is available at ₹1,19,999. Ola Electric has additionally introduced its ICE-killer product, the S1 X in three variants – S1 X+, S1 X (3kWh), S1 X (2kWh) – to cater to the requirements of riders with diverse preferences. The S1 X+ is available for purchase now at an introductory price of INR ₹1,09,999. The pre-reservation window for the S1 X (3kWh) and S1 X (2kWh) is now open at INR 999 only. S1 X (3kWh) and S1 X (2kWh) scooters are available at an introductory price of INR 99,999 and INR 89,999, respectively.
About Ola
Ola is India’s largest mobility platform and one of the world’s largest ride-hailing companies. Ola revolutionized urban mobility by making it available on-demand for over a billion people across 3 continents. Today, Ola continues to move the world to sustainable mobility through its ride-hailing platform as well as through advanced electric vehicles manufactured at its Futurefactory, the largest, most advanced, and sustainable two-wheeler factory in the world. Ola is dedicated to transitioning the world to sustainable mobility and making the world better than we found it.
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