Ola Electric Maintains Over 52% E2W Market Share In April 2024

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In April, Ola reported that every second E2W registered in India was their S1 model.

Ola Electric announced on Wednesday that it has secured over 52% of the market share in the electric two-wheeler (E2W) segment as of April 2024, solidifying its leadership in India’s market. The company achieved 34,000 registrations during the month as per the government’s VAHAN Portal, marking a year-over-year growth of 54% compared to last April.

Anshul Khandelwal, the Chief Marketing Officer at Ola Electric Technologies Private Limited, expressed excitement about the company’s performance, noting that April’s results represented a significant milestone, with market share exceeding 52% in the 2W EV category. He attributed this success to Ola’s extensive scooter range, which saw its second-highest registration numbers ever during the month. He highlighted the company’s cost-effective production and comprehensive manufacturing capabilities as key factors driving market share growth. Additionally, with the upcoming delivery of the new S1 X line, which targets the mass market, Khandelwal anticipates further expansion in this segment.

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Ola Electric has also ventured into the mass market with the introduction of the S1 X scooter, available in three battery options: 2 kWh, 3 kWh, and 4 kWh, with introductory prices set at INR 69,999, INR 84,999, and INR 99,999, respectively. The company also adjusted the pricing for its premium models, the S1 Pro, S1 Air, and S1 X+, which are now priced at INR 1,29,999, INR 1,04,999, and INR 84,999, respectively, with deliveries expected to commence shortly.

In efforts to encourage broader adoption of electric vehicles, Ola Electric is providing an 8-year/80,000 km extended battery warranty at no additional charge across all its products. Furthermore, customers have the option to purchase additional warranty coverage that extends the mileage limit up to 1,00,000 km for INR 4,999 and up to 1,25,000 km for INR 12,999. Ola has also introduced a 3KW fast charger available for INR 29,999, enhancing the charging infrastructure for its users. These initiatives were detailed in a recent media release by the company.

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Aryaman Raghuvanshi
Aryaman Raghuvanshi
Aryaman Raghuvanshi is a Journalist at EFY. His passion is to explore the future of mobility, which gets him to cover latest technologies shaping the future of automobiles and EVs. But, at times he writes on broader technologies too. LinkedIn: https://www.linkedin.com/in/aryaman-raghuvanshi-2431b7153

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