Ola Electric continued its stronghold in the electric two-wheeler segment with a market share exceeding 52 per cent in April 2024
Ola Electric announced yesterday that it achieved a market share of over 52 per cent in the electric two-wheeler segment in the month of April 2024, reinforcing its leadership status in the domestic market. According to the Government’s VAHAN Portal, the Bengaluru-based brand posted 34,000 registrations last month.
This marked a 54 per cent year-over-year growth compared to the same month last year. The significant growth rate demonstrates Ola Electric’s strong position in the EV two-wheeler market and its continued success in capturing a large portion of the segment. The company recently entered the mass-market segment and introduced new pricing for its S1 X range of scooters.
The Ola S1 X is now sold in three battery options – 2 kWh, 3 kWh, and 4 kWh with prices starting at Rs. 69,999 (introductory price) for the base variant, Rs. 84,999 for the 3 kWh version and Rs. 99,999 for the top-spec 4 kWh model. The customer deliveries for these zero-emission scooters will commence soon in India and they can be booked online or at authorised dealerships.
In addition, Ola Electric revised the prices for its more premium models: the S1 Pro is now priced at Rs. 1,29,999, the S1 Air at Rs. 1,04,999, and the S1 X+ at Rs. 84,999 giving customers a wide range of options to choose from. This new pricing strategy reflects Ola’s efforts to cater to a broader range of buyers while continuing to offer premium options.
To make the deals even sweeter, Ola provides an 8-year/80,000 km extended battery warranty for its entire product range at no additional cost. They can extend the warranty to 100,000 km for Rs. 4,999 or to 1,25,000 km for Rs. 12,999. Alongside the extended warranties, it has introduced a 3 kW fast charger accessory, available for purchase at Rs. 29,999, offering faster and more convenient charging options.
Speaking of the sales performance, 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.”