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Ola Marks Highest YoY Growth: More Than 53,000 Units Sold In March
The electric scooter manufacturer in India, Ola Electric Technologies Private Limited, made an announcement today marking the brand's highest monthly increase in sales for the fifth consecutive month. Ola Electric sold over 53,000 units in March 2024.
Ola Electric has reported an impressive year-on-year growth of 115% in the financial year of 2024 (FY24) with 3,28,785 units sold, compared to the financial year of 2023 (FY23), which had 1,52,741 units sold.
In the fourth quarter of FY24, Ola Electric sold 1,19,310 units which marked a 42% increase when compared to the 84,133 units in the third quarter of FY24.
The Chief Marketing Officer of Ola Electric Technologies Private Limited, Anshul Khandelwal stated that Ola could not have had a better end to such a successful year. Anshul said, “The past year has been a momentous one for us as well as the EV industry, and we have been the market leader for the full financial year recording consistent growth in both volumes and market share.”
Anshul Khandelwal stated in his announcement that Ola aims to continue the growth trajectory and contribute to electrifying India. Ola Electric has been actively introducing new schemes to try to convince more customers to buy electric vehicles, like more product diversity, service plans, and extended warranty of 8 years or 80,000(whichever comes first) across all products for no extra charge. Ola buyers can extend the warranty to 1,25,000km for Rs 4,999.
Ola recently released the S1 X (4kWh) model to expand their lineup. Currently, Ola has 6 models in their fleet, the S1 Pro, the S1 Air, the S1 X+, and the S1 X- 2 kWh, 3 kWh, and 4 kWh, catering to different requirements of consumers. A portable fast charger accessory of 3kW can be opted for by buyers for Rs 29,999.
Ola buyers can choose from 450 different Ola-operated services across India with the Prayagraj service centre that was opened on the 19th of March.
Drivespark Thinks
The consistent growth of Ola Electric throughout FY24 shows Ola’s commitment to driving India's electrification journey forward. Ola Electric's introduction such as the extended battery warranties and portable fast chargers, showcases Ola's aim at enhancing the overall ownership experience for EV customers.
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