ola-electric-captures-52-market-share-in-ev-two-wheeler-segment-in-april

Ola Electric captures 52% market share in EV two-wheeler segment in April

According to the government’s VAHAN Portal, the company recorded 34,000 registrations during the month and registered a year-on-year growth of 54% over the corresponding month last year.

- New Delhi - UPDATED: May 1, 2024, 08:35 PM - 2 min read

Ola Electric captures 52% market share in EV two-wheeler segment in April

Ola Electric recently marked its entry into the mass-market segment and announced new prices for its S1 X portfolio.

Ola Electric, led by Bhavish Aggarwal, announced on Wednesday that it has secured over 52% of the market share in the electric vehicle (EV) two-wheeler segment for April.

According to data from the government’s VAHAN Portal, the company recorded 34,000 registrations during the month, marking a year-on-year growth of 54% compared to the same period last year.

Anshul Khandelwal, Chief Marketing Officer at Ola Electric, attributed the increase in market share to the company’s strong cost structures and vertically integrated manufacturing capabilities.

“With the deliveries of our mass-market S1 X portfolio starting soon, we are all set and excited to enter the mass-market 2W EV segment in India,” Khandelwal stated.

Ola Electric recently entered the mass-market segment and unveiled revised prices for its S1 X portfolio. The scooter, available in three battery configurations (2 kWh, 3 kWh, and 4 kWh), is now priced at Rs 69,999 (introductory price), Rs 84,999, and Rs 99,999, respectively.

Additionally, the company adjusted the prices of its premium offerings: S1 Pro, S1 Air, and S1 X+, which are now priced at Rs 1,29,999, Rs 1,04,999, and Rs 84,999, respectively.