Ola Electric Surpasses Records with 35,000 Registrations in February
Bengaluru, March 1st, 2024 – Ola Electric, a frontrunner in India’s electric vehicle (EV) market, announced a significant milestone with 35,000 registrations in February, solidifying its dominance in the EV 2W segment with a commanding 42% market share. This achievement marks a remarkable doubling in sales compared to February 2023, exhibiting an impressive year-on-year growth of nearly 100%. Over the last three months, Ola Electric has consistently exceeded expectations, amassing close to 100,000 registrations, with December witnessing a historic 30,000 registrations, a first in the EV 2W sector.
Anshul Khandelwal, Chief Marketing Officer at Ola Electric Technologies Private Limited, attributed this success to the company’s diverse S1 scooter portfolio and a growing consumer preference for quality EVs at competitive prices. The introduction of the S1 X (4kWh) expands the portfolio to six distinct products, catering to varied customer needs and budgets.
Ola Electric’s recent initiatives include the industry’s first 8-year/80,000 km extended battery warranty across its entire product range, aimed at doubling the lifespan of EVs compared to internal combustion engine (ICE) vehicles. Plans to expand the service network by 50% and ramp up the fast-charging infrastructure to 10,000 points by the next quarter underscore Ola Electric’s commitment to providing unparalleled customer support and convenience.
Investors are advised to refer to the relevant prospectus and consult with financial advisors before making any investment decisions. With Ola Electric’s continued innovation and strategic initiatives, India’s electric vehicle revolution is poised to accelerate, ushering in a cleaner, greener future for generations to come.
