Ola Electric sees new registrations bump in festive season, bags 34% market share
Ola Electric stated that the growth is driven by the company’s S1 scooter lineup and its expanding service network, which has continued to attract a broad customer base.
Bhavish Aggarwal-led has recorded 15,672 new registrations this month (as of October 14) as the festive season picks up. The company now boasts a 34% market share of the electric two-wheeler segment.
According to a statement from the company, the growth was driven by its S1 scooter lineup and its expanding service network, which has continued to attract a broad customer base.
To increase EV adoption in Tier II and III cities and improve the after-sales and ownership experience, Ola Electric has made a series of initiatives over the past few weeks.
The firm launched the #HyperService campaign to deliver a technology-driven after-sales service for its customers. As part of this initiative, Ola Electric plans to expand its service infrastructure by doubling its company-owned service network to 1,000 centres by December 2024.
Ola Electric also plans to onboard 10,000 partners across sales and service by the end of 2025 as part of its network partner programme. The company also announced its EV service training programme to train one lakh third-party mechanics to be EV-ready.
The company recently rolled out its S1 portfolio, offering six models at different price points. The premium segment features the S1 Pro and S1 Air, priced at Rs 1,34,999 and Rs 1,07,499, respectively. For the mass market, the S1 X lineup includes three variants with battery capacities of 2 kWh, 3 kWh, and 4 kWh, priced at Rs 74,999, Rs 87,999, and Rs 101,999, respectively.
During its annual ‘Sankalp’ event in August, Ola Electric also announced the launch of its Roadster motorcycle series. The new series comprises the Roadster X (2.5 kWh, 3.5 kWh, 4.5 kWh), Roadster (3.5 kWh, 4.5 kWh, 6 kWh), and Roadster Pro (8 kWh, 16 kWh). The Roadster X is priced starting at Rs 74,999, the Roadster at Rs 1,04,999, and the Roadster Pro at Rs 1,99,999.
(Disclaimer: Shradha Sharma, Founder and CEO of YourStory, is an independent director in Ola Electric.)
Edited by Kanishk Singh