Ola Electric continues to dominate EV 2W registrations, records 107% YoY growth in June 2024

Ola Electric today announced that it has posted a strong 107% Year-on-Year growth in June 2024 registrations as compared to the corresponding month in 2023. The company recorded 36,716 registrations (according to the government’s VAHAN Portal) during the month, continuing its dominance in the EV 2W segment with a market share of 46%. Additionally, the company has recorded an impressive 57% growth in Q1 of FY25 over Q1 FY24. The company witnessed over 1.08 lakh registrations in the quarter ended June 2024.

Ola Electric also surpassed 2 lakh registrations in CY2024, becoming the first EV 2W company to achieve the milestone within the first half of a calendar year. The company has so far recorded over 2.28 lakh registrations in 2024.

Anshul Khandelwal, Chief Marketing Officer, Ola Electric Technologies Private Limited, said: “We have been the market leader in the EV 2W segment for seven consecutive quarters now. Our steady market leadership reflects the strength of our expansive S1 portfolio with the product offerings across attractive price points, making EVs accessible to everyone. We continue to be steadfast in our commitment to accelerate India’s EV transition and contribute to the growth of the industry.”

Ola Electric offers an expansive S1 portfolio with six offerings across attractive price points catering to customers with different range requirements. It has 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. Additionally, its premium offerings include S1 Pro, S1 Air, and S1 X+, which are priced at INR 1,29,999, INR 1,04,999, and INR 89,999, respectively.

The company also 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.