Bhavish Aggarwal-led Ola Electric sold 20,000 units of its electric scooters in October, which is the highest ever for an EV company in India. Ola Electric, which sells electric scooters S1 Pro and S1, has recorded a 60% growth in its e-scooters sold in October, thanks to a strong performance during the festive season. The overall electric two-wheeler industry grew by almost 30% in October.
Reacting to the development, Ola CEO Bhavish Aggarwal said: "20000 Ola S1 units sold in October, highest ever for an EV company in India! 60% growth month on month for @OlaElectric. The Ola community is now bigger than ever and Mission Electric 2025 is in sight! We will #EndICEage together."
An Ola statement said the total sales grew four-fold over the daily run rate during Navratris and 10-fold during Dussehra. In comparison, Okinawa Autotech, which is the second biggest EV maker in India after Ola, recorded 17,531 registrations in October, 111.8% growth on a month-on-month basis. While Ola Electric sold 9,649 units in September, Okinawa had sold 8,277 units in the month.
Ola Electric last month announced its foray into international markets after signing an MoU with CG Motors of Nepal. The latter will partner with the company, valued at $5 billion, as local distributors for its S1 and S1 Pro scooters. The scooters will be available in Nepal starting next quarter. Ola also has plans to enter LATAM, ASEAN and EU in the next phase — increasing its presence in up to five international markets.
Back home, Ola Electric recently converted 20 of its service and physical touchpoints into a facility called an experience centre. At these centres, customers can get the look and feel of the Ola Electric scooter. On October 22, Ola Electric launched Ola S1 Air electric scooter, a mid version of Ola S1 and Ola S1 Pro models. The scooter is priced at ₹84,999, though customers who booked it before or on Diwali will get it for ₹79,999. People can book it for Rs 999, though the deliveries will start in April 2023.
Besides, Ola has also unveiled an ambitious four-wheeler project on Independence Day, with the first public reveal of a car with a claim of the best performance, design, and technology ever built in India. Ola Electric is also the only Indian manufacturer of EVs to be selected by the government under its ambitious ₹80,000 crore cell PLI scheme — receiving the maximum capacity of 20 GWh for its bid in March.
Recently, Ola Electric also took the wraps off its first in-house developed Li-ion cell, NMC 2170. The high nickel cylindrical Ola cell—which uses Nickel-Manganese-Cobalt (NMC) on the cathode side; and graphite and silicon on the anode side—will be mass-produced in its Gigafactory in 2023.