Ola Electric sees 6% sales boost, captures 49% market share
What's the story
Ola Electric, a prominent electric scooter manufacturer, has reported a sales increase of 6.26% in May 2024, selling a total of 37,191 units.
This growth is in comparison to the same month last year when the company sold over 35,000 units.
According to data from the Vahan portal, Ola Electric now commands a significant 49% share of the electric scooter market.
Product line
S1 X range fuels sales surge
The company attributes its robust performance largely to the sales of its new S1 X range.
The S1 X electric scooter, Ola Electric's most affordable model, starts at ₹74,999 for the 2kWh variant.
Other variants include a 3kWh model priced at ₹84,999 and a 4kWh variant priced at ₹99,999.
These prices are ex-showroom rates.
Executive statement
CMO comments on impressive sales figures
Anshul Khandelwal, Chief Marketing Officer of Ola Electric, spoke about the company's impressive sales figures.
He stated, "We continue to lead India's EV transition efforts in the 2W segment with a leading 49% share in the market and a steady growth in our registrations."
Khandelwal also highlighted the recent commencement of deliveries for their mass-market S1 X portfolio.
Customer service
Ola Electric now offering extended warranty
In addition to the S1 X range, Ola Electric also offers other models such as the S1 X+, S1 Air, and S1 Pro.
These cost ₹89,999, ₹1.05 lakh, and ₹1.30 lakh (ex-showroom) respectively.
Recently, the company has improved its customer offerings, by extending the battery warranty to cover eight years or 80,000km across its entire lineup.