Monday, February 26, 2024

Ola Electric Sales Reach 20,000 Units In October

Ola Electric has announced that its sales will exceed 20,000 units for the third consecutive month in November 2022. The electric scooter manufacturer currently leads the premium electric scooter segment in India (1 lakh and above), with a 50% market share in both ICE and EVs. In comparison, rival Ather Energy sold 7,234 units in November of this year, while TVS sold over 10,000 iQube units last month.

Bhavish Aggarwal, Founder and CEO of Ola, stated, “The end of the ICE age is now a reality.” The complete dominance of EVs in the premium scooter segment demonstrates that the only reason customers consider an ICE vehicle today is a lack of world-class EV alternatives. We will continue to build and expand aggressively with products across multiple segments and price points, leading the Indian two-wheeler industry to 100% EVs by 2025!”

According to Ola, EVs now hold a 92% share of the premium scooter segment, up from 36% in 2021 prior to the company’s entry into this space. Aside from Ola, companies such as Ather, Okinawa, Okaya, TVS, Ampere, and others sell electric scooters in the premium scooter segment. (

Ola’s aggressive expansion is also assisting the manufacturer in achieving better results month after month. The company is rapidly expanding its network presence in the country, having recently opened its 50th experience centre. The company has also accelerated its plan to open 200 experience centres by the end of December 2022, rather than the earlier deadline of January 2023. In the coming years, the company plans to introduce new products, such as e-scooters and motorcycles. Ola is working on an electric car, which has been teased on several occasions recently. All products will be manufactured at the company’s new factory in Krishnagiri, Tamil Nadu.


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