Ola Electric Achieves 49% Market Share In EV 2W Segment In May ‘24

Ola Electric has announced that it has captured 49% market share in May 2024, continuing its dominance in the EV 2W segment. The company recorded 37,191 registrations (according to government’s VAHAN Portal) during the month on the back of its strong S1 scooter portfolio, including the all-new mass-market S1 X range.

Anshul Khandelwal, Chief Marketing Officer, Ola Electric Technologies Private Limited, said: “We continue to lead India’s EV transition efforts in the 2W segment with a leading 49% share in the market and a steady growth in our registrations. We recently commenced the deliveries of our mass-market S1 X portfolio, which addresses the high upfront cost of purchasing an EV, one of the biggest barriers to the adoption of EVs. With our S1 X, we continue to work towards expanding the EV 2W market for overall growth of the industry.”

Ola Electric recently marked its entry into the mass-market segment with the S1 X portfolio. Available in three battery configurations (2 kWh, 3 kWh, and 4 kWh), the scooters are priced at INR 74,999, INR 84,999, and INR 99,999, respectively. The company recently revised the prices of its premium offerings S1 Pro, S1 Air, and S1 X+ to INR 1,29,999, INR 1,04,999, and INR 89,999, respectively.

Ola Electric offers an 8-year/80,000 km extended battery warranty for the entire range of products at no extra cost, a move Ola Electric believes addresses one of the barriers to EV adoption by extending the lifespan of the vehicles. Customers can also opt for an add-on warranty and increase the upper limit of the kilometres travelled up to 1,00,000 km at INR 4,999 and up to 1,25,000 km at INR 12,999. Ola Electric has also introduced a fast charger accessory of 3KW which is available for purchase at INR 29,999.