Ola Electric becomes first Indian OEM to sell 250,000 EVs in a year

With retail sales of 252,647 electric scooters between January 1 and December 21, Ola Electric has notched a new milestone and captured 31% of the 828,537 electric two-wheelers sold in India till the penultimate week of this year. 

By Ajit Dalvi calendar 21 Dec 2023 Views icon3265 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Ola Electric becomes first Indian OEM to sell 250,000 EVs in a year

Ola Electric has just recorded yet another sales milestone. With retail sales of 252,647 electric scooters from January 1, 2023 through to December 21, 2023, it has become the first electric vehicle manufacturer in India to surpass the 250,000-unit milestone in a calendar year.

With 10 days still left for December and the year to draw to a close, Ola could add another 13,000-14,000 units to its current December 2023 tally and take its overall CY2023 retails to a record 260,000-plus units.

Between January 1 and December 21, Ola has sold 252,647 units to record strong 131% YoY growth and a commanding 31% share of the e2W market. 

As per Vahan data (as of 3pm, December 21) of retail e-two-wheeler sales reveals that Ola has recorded handsome 131% year-on-year growth in CY2023 (with 10 days still to go in December 2023), having sold 252,647 units this year as compared to 109,395 units in CY2022.

The retail sales data table above depicts just how strong and sustained demand has been for the company throughout the year. Ola opened CY2023 with 18,353 units in January, crossed the 20,000-unit mark for the first time in March (21,434 units) and notched a monthly best in the festive month of November (29,898 units).

What is creditable that in a market comprising around 170 players, Ola has maintained its lead in sales and the resultant commanding market share. Right through CY2023, Ola’s market share has been in excess of 25%, hitting a high of 38% in June when e-two-wheeler sales had crashed as a result of the slashed-by-25% FAME subsidy and total industry sales were down by 56% to 46,071 units. For the entire 12-month period, Ola’s market share stands at 30.50% percent. 

Two other OEMs have crossed the six-figure sales mark this year, albeit Ola has a huge lead over them. While TVS Motor Co, with 162,399 units, has a 19.60% share and Ather Energy, with 101,940 units, has a 12.30% share.

On December 8, Ola began deliveries of its all-new S1 X+ across India. Built on the superior Gen 2 platform, the S1 X+ comes with a 3kWh battery and offers a certified range of 151km. Powered by a 6kW motor, the S1 X+ does the 0-40kph sprint in 3.3 seconds and can clock a top speed of 90kph.

Ola recently expanded its S1 portfolio to five scooters. Priced at Rs 147,499, the S1 Pro (second-generation) is the company’s flagship scooter while the S1 Air costs Rs 1,19,999. Ola has targeted the ICE scooter market with its S1X in three variants – S1 X+, S1 X (3kWh), and S1 X (2kWh), the latter two available at an introductory price of Rs 99,999 and RS 89,999, respectively.

This year has seen Ola expand its D2C omnichannel distribution network and as of end-October 2023, the EV OEM has 935 experience centres and 392 service centres across India.

Images: Ola 

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