Ola Electric achieved a historic milestone in November 2023, unveiling an impressive sales performance with over 30,000 registrations, marking its highest-ever monthly tally according to Vahan data. The surge in sales, fueled by festive season enthusiasm, propelled the Tamil Nadu-based electric vehicle manufacturer to an impressive year-on-year growth of 82%. Remarkably, month-on-month volumes surged by approximately 30%, underscoring the brand’s resilience and popularity.
The Chief Marketing Officer of Ola Electric, Anshul Khandelwal, attributed this success to the trust customers place in the brand and its robust product lineup. With a 35% market share in November, Ola Electric solidified its position as the undisputed leader in the electric two-wheeler segment for the fifth consecutive quarter since September 2022.
Khandelwal expressed confidence in sustaining this momentum into December, concluding the year on a high note. He emphasized Ola Electric’s unwavering commitment to advancing India’s transition to green mobility, echoing their mission to #EndICEAge in the scooter segment.
Ola Electric’s success can be attributed to its new S1 range, launched earlier in the year, which received an overwhelming response. The range includes the feature-loaded S1 Pro, the affordable S1 Air, and the S1X electric scooters. The company’s flagship offering, the second-generation Ola S1 Pro, is priced at Rs. 1.47 lakh, while the more accessible Ola S1 Air is priced at Rs. 1.20 lakh. The entry-level S1X, available in three variants, starts at Rs. 89,999 (limited period), presenting a compelling value proposition.
Notably, Ola Electric’s dominance extends beyond two-wheelers, as the company plans to enter the electric motorcycle and car segments. Four electric motorcycle concepts were showcased earlier in the year, expected to hit the market by late 2024 or early 2025. Additionally, Ola is constructing its inaugural Gigafactory for local battery cell manufacturing, slated to be operational next year.
Ola Electric’s remarkable achievements underscore not only its current success but also its ambitious vision for the future, positioning itself as a key player in India’s evolving electric vehicle landscape.