Ola Electric Dominates the e2w Market with 52% Share Despite Sales Slump

Ola Electric recently adjusted the prices of S1X+ (₹84,999), S1 Air (₹1,04,999), and S1 Pro - (₹1,29,999)

Ola Electric secured more than 52% of the electric two-wheeler (e2w) market share in April. The EV maker recorded 33,934 registrations, as per multiple media sources. Additionally, it showed a noteworthy year-on-year growth of 54% compared to the same period last year.

Despite these achievements, there was a notable decrease in registrations from March. Ola’s registrations experienced a 38% decline in April compared to March, with 30,728 vehicles. However, the company enhanced its market share because its decline was relatively lower than the industry average.

Ola S1 Air priced ₹1,04,999 (Source: Ola Electric)
Ola S1 Air (Source: Ola Electric)

In March, e2w sales reached an all-time high with 131,690 units, showing an impressive 50% increase compared to the previous year. Meanwhile, in April, the total registrations of e2w witnessed a decline of 56%, dropping 57,618 vehicles.

This decline may be attributed to the government’s replacement of the FAME II subsidy scheme with the Electric Mobility Promotion Scheme (EMPS).  Additionally, the government has slashed the budgetary allocation for the scheme by 44% to Rs 2,671 crore for the fiscal year 2025. Industry experts anticipate that this reduction could lead to a slowdown in the adoption of EVs. 

Note that Vahan Portal only records the total number of registered sales and does not include bookings. 

Anshul Khandelwal, Chief Marketing Officer, Ola Electric, said:

It has been a phenomenal start to FY25, with our market share crossing the 52% mark in the 2W EV segment. Thanks to our wide scooter portfolio, we recorded our second all-time high registrations in April. 

Ola S1 X with different battery options (Source: Ola Electric)

Product Portfolio & Pricing Strategy

Ola Electric has recently ventured into the mass-market segment and unveiled new pricing for its S1 X lineup. 

The scooter, offered in three battery variants (2 kWh, 3 kWh, and 4 kWh), comes with price tags of ₹69,999 (2kwH), ₹84,999, and ₹99,999, respectively. Ola Electric will start the deliveries of these scooters soon. 

Additionally, the EV maker has adjusted the prices of its premium models, including:

  • S1 X+ – ₹84,999
  • S1 Air – ₹1,04,999
  • S1 Pro – ₹1,29,999

Moreover, the company provide an 8-year/80,000 km extended battery warranty across its product range at no additional cost. The aim is to overcome one of the obstacles to EV adoption by extending vehicle lifespan. 

Customers can choose an add-on warranty to extend the mileage limit to 1,00,000 km for ₹4,999 or 1,25,000 km for ₹12,999. Furthermore, the company has launched a 3KW fast charger priced at ₹29,999, as stated in a press release.

Wrapping Up

Ola Electric directed its efforts towards selling two-wheelers priced below the Rs 1 lakh threshold rather than exclusively targeting the over-Rs 1 lakh market. This could be one of the reasons Ola Electric experienced a less significant drop in sales than others.