In 2024, Ola Electric reached a significant milestone by exceeding 200,000 registrations, becoming the first electric two-wheeler (EV 2W) company to achieve this in the first half of the calendar year. To date, the company has registered more than 228,000 vehicles in 2024.
Ola Electric revealed that it has experienced a robust 107% year-on-year increase in its June 2024 registrations compared to the same month in 2023. According to data from the government’s VAHAN Portal, the company achieved 36,716 registrations in June, securing a commanding 46% market share in the electric two-wheeler (EV 2W) sector. Furthermore, the company reported a notable 57% growth in the first quarter of Fiscal Year 2025 over the first quarter of Fiscal Year 2024, with over 108,000 registrations recorded in the quarter ending June 2024, as per a recent media release. Additionally, Ola Electric became the first EV 2W company to surpass 200,000 registrations in the 2024 calendar year, reaching over 228,000 registrations so far.
Anshul Khandelwal, Chief Marketing Officer at Ola Electric Technologies Private Limited, commented, “For seven consecutive quarters, we have led the market in the EV 2W segment. Our continued leadership demonstrates the strength of our extensive S1 portfolio, which offers products at various attractive price points, making electric vehicles accessible to a broad audience. We remain committed to driving India’s transition to electric vehicles and supporting the overall industry growth.”
Ola Electric’s diverse S1 product range includes six models designed to meet various customer needs in terms of range and price. The company has recently expanded into the mass-market segment with the introduction of the S1 X portfolio, which includes models with three different battery sizes (2 kWh, 3 kWh, and 4 kWh), priced at INR 74,999, INR 84,999, and INR 99,999 respectively. The premium segment includes the S1 Pro, S1 Air, and S1 X+, priced at INR 1,29,999, INR 1,04,999, and INR 89,999, respectively.
Moreover, Ola Electric offers an 8-year/80,000 km extended battery warranty for its full range at no additional cost, which the company believes will help overcome one of the main hurdles to EV adoption by enhancing the longevity of the vehicles. Customers also have the option to purchase an additional warranty to extend the mileage limit to 100,000 km for INR 4,999 or 125,000 km for INR 12,999. Additionally, Ola Electric has introduced a 3KW fast charger, available for purchase at INR 29,999, further enhancing the convenience for EV users.
