Ola Electric records over 30,000 registrations in December

The company clocked its highest ever monthly registrations during the month and posted a year-on-year (Y-o-Y) growth of 74% compared to the same month last year.

By Autocar Professional Bureau

01 Jan 2024

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Ola Electric records over 30,000 registrations in December

Ola Electric today announced that it recorded 30,219 registrations in December and captured a 40% market share in the EV 2w segment (as per VAHAN Portal).

The company clocked its highest ever monthly registrations during the month and posted a year-on-year (Y-o-Y) growth of 74% compared to the same month last year.

Additionally, it posted a Q-o-Q growth of 48% with 83,963 registrations during the quarter ended December and a Y-o-Y growth of 68% when compared to the same
quarter last year.

Ola Electric has achieved yet another achievement in December by reaching an industry-first production milestone of 4,00,000 scooters in the span of just two years. The company has also emerged as the first ever EV 2w manufacturer to record over 2.65 lakh registrations (as per VAHAN Portal) in a

calendar year.

Anshul Khandelwal, Chief Marketing Officer, Ola Electric Technologies Private Limited, said “We believe
that we have continued our market leadership for yet another quarter on the back of our strong product lineup comprising S1 Pro, S1 Air, and the S1 X+. Our ‘December to Remember’ campaign has been a massive success, bringing thousands more under the EV fold.”

IPO-bound Ola Electric looks to raise Rs 5,500 crore via fresh issue, marking the first public offering by an electric vehicle maker and the first by an automaker in the last 20 years.

Also read: Ola Electric gets ARAI nod to qualify for eligibility certification under Auto PLI Scheme

Also read: Ola Electric's Giga factory to be operational by March 2024