Electric vehicle company Ola Electric has sold over 35,000 units in May, it claims in a press release. It has captured a market share of over 30% and has achieved a year-on-year growth of 300% during the last month, the release further stated.
Bhavish Aggarwal, Founder and CEO, Ola Electric, said that they have marginally increased their product prices starting from June, despite a significant reduction in government subsidies.
With the revised subsidies coming into effect starting from June, Ola S1 Pro is now priced at Rs 1,39,999, S1 (3KWh) at Rs 1,29,999, and S1 Air (3KWh) at Rs 1,09,999. While the subsidies have reduced significantly, Ola’s focus on engineering and innovation has enabled the brand to minimise the price impact, and now the S1 Pro will be retailed at its initial launch price.
Ola is actively augmenting its offline presence through the establishment of numerous Ola Experience Centres (ECs) throughout India to accelerate the adoption of electric vehicles in the country. The company recently launched its 600th EC and has plans to further expand to 1,000 by August.