Ola Electric vehicle registrations up 74% at 41,605 units in Oct

Ola Electric Mobility Ltd on Friday reported a 74% rise in vehicle registrations at 41,605 units in October 2024 compared with the same month last year.

The company sold over 50,000 units in October 2024, Ola Electric said in a statement.

The registration numbers are as per Vahan data, it added.

"The festive season has been really strong for us on the back of our expansive portfolio, an uptick in consumer demand, and the strengthening of our sales network across India. We have witnessed an increase in EV adoption, especially in Tier II and III markets and we are confident that this positive growth will cascade in the coming months as well," a spokesperson of Ola Electric Mobility Ltd said.

The company said it has started a campaign to double its company-owned service network to 1,000 centres by December 2024. Also, as part of the network partner programme, it will onboard 10,000 partners across sales and service by the end of 2025.

The company also reported a YoY growth of 74% in registrations in October 2024 compared with the same month last year.

The SoftBank Group-backed firm has added more than 50 service centres and has hired over 500 service technicians across new and existing service centres to streamline operations and clear all backlogs.

The company reportedly has also onboarded Ernst & Young for service transformation, strategy, and optimisation of overall service processes.

The development comes in the backdrop of some centres reporting backlogs as demand outstripped their workforce.

(Disclaimer - Additional inputs added to the copy for background information)

(Disclaimer: Shradha Sharma, Founder and CEO of YourStory, is an independent director in Ola Electric.)