Auto Sales February 2024: Ola Electric Sets Highest Ever Monthly Sales

Ola Electric is the first Indian EV two-wheeler company to cross 2.5 lakh units in annual sales and has maintained its commanding lead in FY2024. Following its January record of 32,160 units - the company's best-ever monthly sales - Ola has achieved its highest monthly registrations yet, clocking 35,000 units in February 2024.

This impressive figure translates to a 42% market share for Ola in the electric scooter segment, solidifying its position as a leader in the Indian EV market. Notably, the February sales are double what the company achieved in the same month last year.

Ola attributes its consistent growth to a multi-pronged approach. With this, Ola Electric has announced a series of initiatives across its products, service, charging infrastructure, and battery warranty in order to lure in more customers and help them overcome barriers to EV adoption.

Addressing another crucial aspect of EV ownership, the company plans to expand its service network by 50%, from the current 414 centres to 600 centres across the country by April 2024.Interested customers can now opt for add-on warranties and increase the upper limit of kilometres travelled up to 1,25,000 km at a nominal starting price of ₹4,999. The company offers a range of electric scooters starting from ₹79,999 to ₹1.30 lakh. It doesn't end there, as the company announced its ambitious plans to increase its fast-charging network to 10,000 points by the next quarter. Additionally, it has introduced a portable fast charger accessory of 3 KW, available for purchase at ₹29,999.

The launch of its latest product, the Ola S1 X (4 kWh), expands its stable to six best-in-class products (S1 Pro, S1 Air, S1 X+, S1 X - 2kWh, 3kWh, 4kWh) at different price points, catering to a wider audience with diverse range requirements. Ola recently introduced an 8-year or 80,000-kilometre warranty on its batteries, addressing a key concern for potential EV buyers.