Ola Electric reports 30% M-o-M sales growth in Nov 2023

Ola Electric, a prominent player in the Indian electric vehicle (EV) industry, reported robust sales performance for the month of November, 2023, achieving approximately 30,000 registrations according to Vahan data. The company witnessed substantial month-on-month (MoM) growth of around 30% and year-on-year (YoY) growth of 82%. This resulted in Ola Electric securing a market share of approximately 35% in the EV scooter segment in November, showcasing its dominance.

Speaking on the milestone, Anshul Khandelwal, Chief Marketing Officer, Ola, said: “The strong sales performance is a testament to the trust customers have in our brand and our strong product lineup. We have clearly emerged as our customers’ top choice recording our highest ever registrations, and we expect the trend to continue in December, closing the year on a new high. We are steadfast in our commitment to accelerating India’s journey towards green mobility and inching closer to #EndICEAge in the scooter segment.”

As per the company statement, Ola Electric has sustained its leading market position for the past five consecutive quarters since September 2022. The company’s recently expanded S1 scooter portfolio has garnered significant attention since its launch. The Ola S1 Pro and S1 Air have proven popular choices among customers, particularly during the festive season. Positioned as top contenders in their respective categories, both the S1 Pro and S1 Air contribute significantly to driving EV adoption in India.

The flagship scooter, S1 Pro (2nd Generation), is priced at INR 1,47,499, while the S1 Air is available at INR 1,19,999. Ola Electric has also introduced the S1X, positioned as an ICE-killer product, in three variants: S1 X+, S1 X (3kWh), and S1 X (2kWh), catering to diverse rider preferences. The S1 X+ is currently available at an introductory price of INR ₹1,09,999, and reservations for the S1 X (3kWh) and S1 X (2kWh) are open at INR 999. The introductory prices for the S1 X (3kWh) and S1 X (2kWh) scooters are INR 99,999 and INR 89,999, respectively.

Also Read: Ola Electric unveils new e-scooters, motorcycles, and features at annual event