Ola Electric records over 30,000 registrations in December, dominates the 2W EV segment with 40% market share

Clocks its highest ever monthly registrations, breaching the 30,000 mark
Registers a Y-o-Y growth of 74% during the month of December
Posts 48% Q-o-Q and 68% Y-o-Y growth in the quarter ended December
Concludes CY23 at the top spot with a record 2.65 lakh-plus registrations

Bengaluru, January 1st, 2024: Ola Electric today announced that it recorded 30,219 registrations in December and captured a 40% market share in the EV 2W segment (as per VAHAN Portal). The company clocked its highest ever monthly registrations during the month and posted a year-on-year (Y-o-Y) growth of 74% compared to the same month last year. Additionally, it posted a Q-o-Q growth of 48% with 83,963 registrations during the quarter ended December and a Y-o-Y growth of 68% when compared to the same quarter last year.

Additionally, Ola Electric has achieved yet another achievement in December by reaching an industry-first production milestone of 4,00,000 scooters in the span of just two years. The company has also emerged as the first ever EV 2W manufacturer to record over 2.65 lakh registrations (as per VAHAN Portal) in a calendar year.

Anshul Khandelwal, Chief Marketing Officer, Ola Electric Technologies Private Limited, said “We believe that we have continued our market leadership for yet another quarter on the back of our strong product lineup comprising S1 Pro, S1 Air, and the S1 X+. Our ‘December to Remember’ campaign has been a massive success, bringing thousands more under the EV fold.”

Ola Electric has recently expanded its scooter portfolio to five products. Priced at INR 1,47,499, S1 Pro (2nd Generation) is the company’s flagship premium EV scooter while S1 Air is available at INR 1,19,999. It has additionally introduced the S1X in three variants – S1 X+, S1 X (3kWh), and S1 X (2kWh) to cater to the requirements of riders with diverse preferences. The S1 X+ is currently available at INR 89,999 with a flat INR 20,000 offer on the ex-showroom price of INR ₹1,09,999. The reservation window for the S1 X (3kWh) and S1 X (2kWh) is open at INR 999 only and will be available at an introductory price of INR 99,999 and INR 89,999, respectively.

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