Ola Electric slashes prices of S1 portfolio by up to Rs 25,000

Ola Electric has announced price reductions for its S1 scooter portfolio by up to Rs 25,000. This move comes as a result of a robust cost structure bolstered by formidable vertically integrated in-house technology and manufacturing capabilities, alongside eligibility for manufacturing incentives.

Effective February 16,  the revised pricing is a limited time offer, valid only for this month, the press release noted.

The updated prices for the S1 portfolio are as follows:

Only the S1 Pro, S1 Air and S1 X+ (3kWh) models have undergone reduction in its prices. In December 2023, the EV maker announced a price cut of Rs 20,000 for the S1 X+ model, reducing its price from to Rs 89,999. Now, the price has been further reduced to Rs. 84,999.  

An Ola Electric spokesperson speaking on the announcements said, “On the back of a strong vertically integrated in-house technology and manufacturing capabilities, we have been able to restructure costs and decided to pass on the benefits to customers. Priced equivalently to leading ICE scooters, we are confident that customers will now have no reason to buy an ICE scooter.”

Moreover, Ola Electric has introduced an 8-year/80,000 km extended battery warranty for its entire product range at no additional cost, effectively doubling the lifespan of EVs compared to ICE vehicles. Additionally, plans are underway to expand the service network by 50%, from the current 414 service centres to approximately 600 centres nationwide by April 2024.