Ola Electric registers 6% growth in May sales, captures 49% market share

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Ola Electric announced its sales results for May 2024 and the company retailed 37,191 units (as per the Vahan portal) last month, registering a growth of 6.26 per cent over the same month last year. In contrast, Ola Electric sold over 35,000 units in May 2023. The manufacturer has consistently led the electric scooter market in terms of volumes and holds a 49 per cent market share as of May.

Ola Electric’s strong growth also comes on the back of its sales of the new S1 X range. The electric scooter is the brand’s most affordable offering priced from ₹74,999 onwards for the 2 kWh variant, while the 3 kWh variant is priced at ₹84,999 and the 4 kWh variant is priced at ₹99,999. All prices are ex-showroom.

Speaking about the strong sales, Anshul Khandelwal, Chief Marketing Officer - Ola Electric, said, “We continue to lead India’s EV transition efforts in the 2W segment with a leading 49 per cent 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."

Apart from the S1 X range, Ola Electric retails the S1 X+, S1 Air and S1 Pro models priced at ₹89,999, ₹1.05 lakh and ₹1.30 lakh (ex-showroom) respectively. The company recently extended the battery warranty offering a coverage of 8 years/80,000 km across the lineup.