Ola garners 36,716 units in June 2024 with 107 per cent YoY growth; becomes the first electric two-wheeler maker to register 2 lakh units within the first half of a calendar year.
Ola Electric has announced today that it has achieved a massive Year-on-Year sales growth of 107 per cent in June 2024 in the Indian market. This has been made possible by the domestic tally of 36,716 registrations last month. According to the VAHAN portal, the homegrown manufacturer holds a market share of 46 per cent as it utterly dominates the electric two-wheeler segment.
Furthermore, the brand achieved a huge 57 per cent growth in Q1 FY25 compared to the same period in FY24, with more than 1.08 lakh registrations in the quarter ending June 2024. The company has also surpassed 2 lakh registrations already in CY2024, marking the first time an electric two-wheeler company has reached this milestone within the first half of a calendar year, totalling over 2.28 lakh registrations.
Speaking on the sales performance, Anshul Khandelwal, Chief Marketing Officer, Ola Electric Technologies Private Limited, said: “We have been the market leader in the EV 2W segment for seven consecutive quarters now. Our steady market leadership reflects the strength of our expansive S1 portfolio with the product offerings across attractive price points, making EVs accessible to everyone. We continue to be steadfast in our commitment to accelerate India’s EV transition and contribute to the growth of the industry.”
Ola Electric recently introduced the S1 X series, offering three battery options: 2 kWh, 3 kWh, and 4 kWh, priced at Rs. 74,999, Rs. 84,999, and Rs. 99,999 respectively. This expansion marked its entry into the mass-market EV segment. The S1 lineup includes more premium models like the S1 Pro, S1 Air and S1 X+, costing Rs. 1,29,999, Rs. 1,04,999, and Rs. 89,999 (all prices, ex-showroom).
Catering to various range needs and customer requirements, Ola’s diverse portfolio now boasts six models at different price points. The company provides an extended battery warranty of 8 years or 80,000 km for all its models at no extra charge, addressing a key concern for EV adoption by prolonging vehicle lifespan.
For an additional cost, buyers can increase the warranty coverage to 1,00,000 km for just Rs. 4,999 or 1,25,000 km for Rs. 12,999. In addition, they have the option to choose a 3KW fast charger, which is priced at Rs. 29,999. Ola is planning to launch a host of new models including motorcycles in the near future.
