Ola, an Indian manufacturer of electric vehicles (EVs), reported sales of its S1 line of e-scooters that exceeded the 20,000 unit threshold. Additionally, its overall revenues increased by 60% month over month (MoM). The corporation credits the increase in business that occurred during the festival season for this uptick in sales.
A few weeks ago, Ola Electric asserted that during the Navratri celebrations, their sales increased by a factor of four. During this time, the firm claimed to have sold one scooter every minute. On October 22, Ola also unveiled its most cheap line of electric scooters.
Priced at Rs 84,999, the new Ola S1 Air electric scooter is a scaled-down counterpart of the Ola S1 and Ola S1 Pro. From February onward, customers can reserve this selection of e-scooters, and delivery is expected to start in April 2023.
According to a report by the consulting company RBSA Advisors, the Indian electric vehicle (EV) industry is anticipated to develop at a compound annual growth rate (CAGR) of 90% in this decade and reach $150 billion by 2030.
According to the report, India’s transition to shared, electrified, and connected mobility might enable it to reduce its carbon dioxide emissions by over one gigatonne by 2030.
In the EV industry, the Bhavish Aggarwal-led business contends with rivals including the TVS iQube, Bajaj Chetak, Ather 450X, and Hero Motocorp’s recently introduced VIDA V1 series.
Okinawa is India’s second-largest EV vendor after Ola. In the month of October, the business sold 17,531 electric scooters.