Ola records all-time high registrations of 35,000 in February; consolidates market share to 42%

Ola records all-time high registrations of 35,000 in February; consolidates market share to 42%

Bengaluru: Ola Electric today announced that it recorded 35,000 registrations in February and continued its pole position in the EV 2W segment with an impressive market share of 42%. The company clocked its highest ever monthly registrations during the month and posted an impressive year-on-year (Y-o-Y) growth of nearly 100% compared to the same month last year.

Ola Electric has recorded close to 1,00,000 registrations in the last three months, with more than 30,000 units registered consistently in December, January, and February. In December, the company became the first EV 2W manufacturer to record 30,000 registrations in a month.

Anshul Khandelwal, Chief Marketing Officer, Ola Electric Technologies Private Limited, said: “We have seen consistent growth in our registrations and market share, and have firmly maintained our leadership position in the market. 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 8-year/up to 80,000 km extended battery warranty, increasing number of charging points, and widespread service centres, we are breaking all barriers in the EV adoption.”

Ola Electric has recently announced a series of initiatives spanning across products, service, charging network and battery warranty in an effort to break all barriers in the adoption of EVs. With the launch of S1 X (4kWh), Ola Electric expanded its portfolio to six best-in-class products (S1 Pro, S1 Air, S1 X+, S1 X – 2 kWh, 3kWh, 4kWh), ranging across different price points and catering to customers with different range requirements.

Ola Electric also launched the industry’s first 8 year/80,000 km extended battery warranty for the entire range of products at no extra cost, a move that addresses the biggest barrier for EV adoption by extending the lifespan of the vehicles by 2X of ICE vehicles. Additionally, the company also unveiled the plans to expand its service network by 50% from the current 414 service centres to 600 centres across the country by April 2024. Customers can now also opt for add-on warranty and increase the upper limit of the kilometres travelled up to 125,000 km at a nominal starting price of INR 4,999.

Besides, the company announced plans to ramp up its fast-charging network rapidly to 10,000 points by the next quarter. The company also introduced a portable fast charger accessory of 3KW and is available for purchase at INR 29,999.