APN News

  • Thursday, June, 2024| Today's Market | Current Time: 05:21:47
  • Ola Electric continues to dominate 2W EV segment with over 52% market share in April 2024

    Published on May 2, 2024

     Bengaluru : Ola Electric today announced that it has captured over 52% market share in the EV 2W segment in April 2024, further cementing its position as the market leader in the country. The company recorded 34,000 registrations (according to Government’s VAHAN Portal) during the month, and registered a Y-o-Y growth of 54% over the corresponding month last year.

    Anshul Khandelwal, Chief Marketing Officer, Ola Electric Technologies Private Limited, said: “It has been a phenomenal start to FY25, with our market share crossing the 52% 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.”

    Ola Electric recently marked its entry into the mass-market segment and announced new prices for its S1 X portfolio. Available in three battery configurations (2 kWh, 3 kWh, and 4 kWh), the scooter is now priced at INR 69,999 (introductory price), INR 84,999, and INR 99,999, respectively. The deliveries will start soon. The company also revised the prices of its premium offerings S1 Pro, S1 Air, and S1 X+ to INR 1,29,999, INR 1,04,999, and INR 84,999, respectively. 

    Ola Electric also offers an 8-year/80,000 km extended battery warranty for the entire range of products at no extra cost, a move Ola Electric believes addresses one of the barriers to EV adoption by extending the lifespan of the vehicles. Customers can also opt for an add-on warranty and increase the upper limit of the kilometres travelled up to 1,00,000 km at INR 4,999 and up to 1,25,000 km at INR 12,999. Ola Electric has also introduced a fast charger accessory of 3KW which is available for purchase at INR 29,999.

    SEE COMMENTS

    Leave a Reply