Ola Electric Retails Over 31,000 e-Scooters In January 2024; Reports 70 Per Cent Annual Growth

Ola Electric reported its sales for January 2024 and the company's retail sales stood at over 31,000 units, as per Vahan portal. The electric two-wheeler maker said that it continues to hold a dominant position in the segment with a 40 per cent market share as the brand clocked its highest-ever monthly sales in January.

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Ola Electric posted an impressive year-on-year growth of 70 per cent when compared to the same month last year. Month-on-month registrations were in the green as well with the company registering a marginal hike when compared to 30,000 units sold in December 2023.

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Speaking about the positive sales momentum, Anshul Khandelwal, Chief Marketing Officer - Ola Electric Technologies Private Limited, said “It is a phenomenal start to 2024 as our registrations reached an all-time high in January. We believe our strong product lineup, comprising S1 Pro, S1 Air, and S1 X+, will keep the momentum going and encourage more customers to transition to electric vehicles.”

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Ola Electric's scooter range starts from the S1 X, going up to the S1 Pro, priced between Rs 89,999 and Rs 1.47 lakh (ex-showroom). The company is yet to begin deliveries of the entry-level S1 X but has kept reservations open for Rs 999. Meanwhile, the S1 X+ is available with a flat Rs 20,000 discount and is priced at Rs 89,999 (ex-showroom).

This year will also be significant for Ola Electric with the company planning to announce its initial public offering (IPO) soon. The manufacturer recently became the first EV player in India to get the central government's approval for the PLI scheme.