Ola Electric sells scooters worth over Rs 600 Cr on day one

Ola Electric had postponed its electric scooter's sale process to September 15 as it faced "technical difficulties" in making the website. The delivery is expected in October.
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The day one sale of Ola Electric scooters saw four scooters being sold in every second, clocking a total value of over Rs 600 crore on Wednesday.

“That’s more, in value terms, than what the entire 2W industry sells in a day! Make no mistake, the age of EVs is here,” Ola Electric Founder Bhavish Aggarwal said in a blog post.

Ola Electric had postponed the sale process of its electric scooter S1 and S1 Pro by a week to September 15 as it faced "technical difficulties" in making the website for purchases live for customers.

The sale is slated to end today, i.e., Thursday, and the vehicles will be delivered to the doorstep of the customers in October, the EV maker said.

“This response is beyond our expectations, and given our production plans in the coming months, today will be the last day for consumers to purchase their Ola S1 and S1 Pro scooters,” Bhavish said.

Ola Electric had opened the pre-launch bookings of its electric scooters in July for Rs 499 and had received 1 lakh orders in just 24 hours.

The company had last month launched the Ola S1 electric scooter in two variants — S1 and S1 Pro — at Rs 99,999 and Rs 1,29,999, respectively (ex-showroom, including FAME II subsidy and excluding state subsidies).

In terms of financing, Ola Financial Services has tied up with banks, including IDFC First Bank, HDFC, and Tata Capital.

Ola's two-wheeler vehicles are manufactured at its Futurefactory in Krishnagiri district, Tamil Nadu, and Ola Electric aims to build 10 million two-wheelers by 2022.

In fact, the plant will be fully run and managed by women. It plans to employ over 10,000 women at the production unit.

Bhavish, on the response received for its two-wheelers, said, “Yesterday also established that with the right product, India has huge pent up demand and a massive domestic market for two-wheeler EVs. We must leverage this to drive innovation, a robust local EV ecosystem, and make India not only a big EV market but also a global EV manufacturing hub!“

Edited by Suman Singh

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