KEY HIGHLIGHTS
- Ola Electric sets new milestone
- Becomes first EV company to clock 2.5 lakh unit sales in a year
- Currently offers 5 models in the portfolio
Ola Electric has achieved another significant sales milestone, becoming the first electric two-wheeler manufacturer in India to surpass the 2.5 lakh-unit milestone in a calendar year. The company recorded retail sales of 2,52,647 electric scooters from January 1, 2023, through to December 21, 2023. This accounts for approximately 31 percent of the total 8,28,537 electric two-wheelers sold in India until now. While we take a look at the details in this section, make sure you join our Whatsapp Group Community of petrolheads to find out more exciting stuff about the Auto world.
Let's look at this new milestone in a bit more detail.
Ola Electric Sets A Benchmark
Maintaining a steady monthly average of around 20,000 units in retail sales highlights the enduring and robust demand that Ola Electric has experienced throughout the year. The company commenced CY2023 with 18,353 units sold in January, achieved a milestone by surpassing the 20,000-unit mark for the first time in March (21,434 units), and achieved its highest monthly sales in the festive month of November (29,898 units).
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According to Vahan data tracking retail electric two-wheeler sales, Ola Electric has achieved an impressive year-on-year growth of 131 percent in CY2023, and this is with 10 days remaining in December 2023. In comparison, the retail sales figure for CY2022 was 1,09,395 units.
Over the entire 12-month period, Ola Electric has secured a market share of 30.50 percent in the retail electric two-wheeler segment. Two other electric two-wheeler manufacturers have also surpassed the six-figure sales mark this year, though Ola holds a substantial lead over them. TVS Motor Co, with 1,62,399 units, commands a market share of 19.60 percent, while Ather Energy, with 1,01,940 units, has a 12.30 percent share.
Current State And Upcoming EVs
Ola Electric has recently broadened its S1 scooter portfolio to include five models. Positioned as the flagship scooter, the S1 Pro is priced at Rs 1.47 lakh, while the entry-level model, the S1 X (2kWh), is available at an introductory price of Rs 90,000. Additionally, Ola has expanded its direct-to-consumer (D2C) omnichannel distribution network this year.
Verdict
In conclusion, Ola has made substantial strides in the electric two-wheeler market, achieving impressive sales milestones and expanding its scooter portfolio. With a diverse range of models and a growing distribution network, itcontinues to play a significant role in shaping the landscape of electric mobility in India.
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