Ola Electric reported its sales performance for November 2023 and the company witnessed its highest-ever monthly tally with over 30,000 registrations (as per Vahan data) in the month. A strong surge in sales during the festive season helped the company achieve the number. The Tamil Nadu-based electric vehicle maker said that it registered a year-on-year growth of 82 per cent, while the month-on-month volumes increased by about 30 per cent. Ola Electric’s market share increased to 35 per cent in November this year.
Speaking about the strong sales performance, Anshul Khandelwal, Chief Marketing Officer - Ola Electric, said, “The strong sales performance is a testament to the trust customers have in our brand and our strong product lineup. We have clearly emerged as our customers’ top choice recording our highest-ever registrations, and we expect the trend to continue in December, closing the year on a new high. We are steadfast in our commitment to accelerating India’s journey towards green mobility and inching closer to #EndICEAge in the scooter segment.”
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Ola Electric has become the undisputed leader in the electric two-wheeler segment, holding the top spot for the last five consecutive quarters since September 2022. The company says it’s received a “tremendous response” response for its new S1 range launched earlier this year. The manufacturer brought comprehensive upgrades to the S1 Pro while introducing the more affordable S1 Air and S1X electric scooters. The feature-loaded e-scooters have been well-received and arrive at a competitive price point.
The second-generation Ola S1 Pro remains the brand’s flagship offering priced at Rs. 1.47 lakh, while the more accessible Ola S1 Air is priced at Rs. 1.20 lakh. Ola also introduced the entry-level S1X in three variants - S1X+, S1X 2 kWh and S1X 3 kWh - with prices starting at Rs. 89,999 (limited period). All prices are ex-showroom. The company retails its offerings online with over 1,000 experience centres operational across the country.
Ola also plans to venture into the electric motorcycle segment and showcased four concepts earlier this year. The electric motorcycles are expected to arrive towards the end of 2024 or by early 2025. The company also plans to bring electric cars. Lastly, Ola is building its first Gigafactory for manufacturing battery cells locally and the new facility will be operational by next year.
