BUSINESS: The prices of Ola Electric S1 range were decreased by INR 25,000

Ola Electric

New Delhi: Ola Electric, an Indian electric two-wheeler manufacturer headquartered in Bengaluru, has slashed prices across its S1 scooter range by up to INR 25,000. This decision follows the company’s robust cost structure, extensive in-house technology and manufacturing capabilities, and qualification for manufacturing incentives.

VariantsCurrent PriceNew Price
S1 Pro₹1,47,499₹1,29,999
S1 Air₹1,19,999₹1,04,999
S1 X (4kWh)₹1,09,999₹1,09,999
S1 X+ (3kWh)₹1,09,999₹84,999
S1 X (3kWh)₹89,999₹89,999
S1 X (2kWh)₹79,999₹79,999
An Ola Electric spokesperson stated, “At Ola, we are dedicated to making EVs more affordable and accessible. In line with our mission to accelerate EV adoption nationwide, we are introducing groundbreaking prices across our S1 portfolio. Leveraging our robust in-house technology and manufacturing capabilities, we have successfully restructured costs and opted to extend the benefits to our customers. Priced comparably to leading ICE scooters, we are confident that customers will now find no compelling reason to purchase an ICE scooter.”

Ola Electric has been recognized as the first Indian 2W company to be granted a Domestic Value Addition (DVA) certificate under the Production Linked Incentive (PLI) Scheme for the automobile and auto component industry. This PLI certification underscores the company’s vertically integrated manufacturing capabilities, strong localized supply chain ecosystem, and government subsidies, which have facilitated cost restructuring and consequently led to reductions in scooter prices across the S1 portfolio, enhancing their affordability and accessibility.

Nirbhay Marg News YouTube Channel

In addition to this achievement, Ola Electric has recently unveiled a series of initiatives encompassing products, services, charging networks, and battery warranties, aimed at dismantling all barriers to EV adoption. With the introduction of the S1 X (4kWh), Ola Electric has broadened its portfolio to encompass six best-in-class products, spanning various price points and catering to diverse customer requirements in terms of range.

Nirbhay Marg News YouTube Channel

The company introduced the industry’s pioneering 8-year/80,000 km extended battery warranty for its entire product range, without any additional charges. This initiative aims to tackle the primary hurdle for EV adoption by doubling the lifespan of vehicles compared to ICE vehicles. Furthermore, Ola Electric disclosed its intentions to augment its service network by 50%, increasing from the existing 414 service centers to approximately 600 centers nationwide by April 2024.

 

 

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