Ola Electric registrations hit all-time high in February, market share rise to 42%

Ola Electric sales: Ola Electric Technologies Private Limited, an electric vehicle (EV) manufacturer, reported 35,000 registrations with a 42 per cent market share in the EV 2-wheeler (2W) segment, according to an official statement shared by the company. This marks the company's highest-ever monthly registrations with a growth rate of nearly 100 per cent compared to the same period last year.

Over the past three months, Ola Electric has recorded close to 100,000 registrations, maintaining the momentum with over 30,000 units registered each month since December. In December, Ola Electric became the first EV 2W manufacturer to achieve 30,000 registrations in a single month.

Anshul Khandelwal, Chief Marketing Officer, Ola Electric said, “Our ever-increasing S1 scooter portfolio along with customers becoming more aware and open to buying quality EVs at more accessible price points being the key factors behind this growth. We are confident in continuing our market leadership with best-in-class products and a strong EV infrastructure. With our industry-first offering of an 8-year/up to 80,000 km extended battery warranty, an increasing number of charging points, and widespread service centres, we are breaking all barriers in the EV adoption.”

Expanding products and services

Ola Electric confirmed a series of initiatives across products, services, charging infrastructure, and battery warranties. The recent launch of the S1 X (4kWh) expands the company's product portfolio to six offerings. 

Ola Electric has also unveiled the industry's first 8-year/80,000 km extended battery warranty for its entire product range at no additional cost. 

Furthermore, the company has announced plans to expand its service network, aiming for a 50 per cent expansion from 414 to 600 service centres nationwide by April 2024. Customers now have the option to opt for an add-on warranty, extending the upper limit of kilometres travelled to 125,000 km at a starting price of Rs 4,999.

Ola Electric plans to rapidly expand its fast-charging network to 10,000 points by the next quarter. Additionally, the introduction of a portable fast charger accessory priced at Rs 29,999 provides consumers with greater convenience and flexibility for charging their EVs on the go.