15 April 2024 — Ola Electric, led by Bhavish Aggarwal, has reduced the prices of its S1 X electric scooters range, aiming to drive sales and increase electric vehicle (EV) adoption.
New Pricing
The S1 X range, offered in three battery configurations – 2 kWh, 3 kWh, and 4 kWh, will now be priced at INR 69,999, INR 84,999, and INR 99,999, respectively.
Deliveries for the new models will start post-April 21, with the scooters being available for purchase since February 2.
The price cuts position Ola’s scooters competitively against other EV scooters like Ather 450S and Hero Electric Atria, as well as conventional petrol scooters such as Honda Activa and TVS Jupiter.
A company spokesperson highlighted the importance of reducing upfront EV costs as a major barrier to adoption and expressed confidence in further driving EV penetration with the revised prices and a diverse product portfolio.
Ola Electric also adjusted prices for its S1 Pro, S1 Air, and S1 X+ models to INR 1,29,999, INR 1,04,999, and INR 84,999, respectively.
The company introduced a portable fast charger accessory of 3KW, available for purchase at INR 29,999.
Ola Electric received approval from the Ministry of Heavy Industries to claim subsidies under the Electric Mobility Promotion Scheme (EMPS), 2024. Additionally, the company reached a registration milestone of 5 Lakh units as per the Vahan portal.
Ola Electric plans to expand its service network and is gearing up for its IPO after filing its DRHP in December 2023.
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