Ola Posts 35,000 Units Sales In May 2023 – Sets New Record

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Ola has garnered a market share of over 30 per cent last month with a YoY positive volume surge of 300 per cent

Ola Electric has today announced that it has sold over 35,000 electric scooters in the month of May 2023 and thus retaining its top position in the overall sales table. The Bengaluru-based manufacturer has garnered a market share of over 30 per cent last month with a YoY positive volume surge of 300 per cent.

The company has led the last three quarters and speaking of its dominance, Bhavish Aggarwal, Founder and CEO, Ola Electric, said, “With an unyielding dedication to customer satisfaction, we have marginally increased our product prices starting June, despite significant reduction in government subsidies, making Ola S1 the best EV proposition in India. Ola Electric remains resolute in its mission to promote electric vehicle adoption in the country and redefine the way people travel.”

Despite the reduction in subsidies, Ola Electric has only increased marginally in India. With the revised subsidies coming into effect starting this month, the Ola S1 Pro carries a price of Rs. 1,39,999 while the S1 equipped with a 3 KWh battery pack costs Rs. 1,29,999 and the S1 Air with a 3 KWh Li-ion battery pack, priced at Rs. 1,09,999.

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It is worth noting that while the subsidies have reduced significantly, Ola did not pass on all the impact to customers, and interestingly now the S1 Pro is retailed at its initial launch price. The EV maker has significantly been expanding its footprint through Ola Experience Centers (ECs) across the country.

Ola Electric recently inaugurated its 600th experience centre and has plans to further expand it to 1,000 outlets by August 2023. These centres are said to offer buyers a wide range of services at one convenient location with the presumption that 90 per cent of its customers reside within 20 km of an Ola Experience Centre.

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The brand is also working on expanding its product portfolio and has teased multiple zero-emission vehicles including motorcycles and passenger cars. They will be introduced over the next year or so as Ola looks to take on established players across different segments and price brackets locally.