In three days after cutting prices, Ola Electric sold 10,000 scooters

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Ola Electric, ahead of its upcoming IPO, experienced a notable uptick in scooter sales, recording approximately 10,000 units sold within three days. 

The surge followed the company’s strategic decision to slash prices by Rs 25,000 per unit on its S1 Pro, S1 Air, and S1 X+ models. The move aimed to enhance adoption rates and has evidently resulted in a threefold increase in sales, averaging over 3,000 units per day in the last 72 hours. 

The government’s VAHAN data on EV two-wheeler sales for February is anticipated in the first week of March, providing further insights into the impact of Ola Electric’s pricing strategy. 

The company’s scooters are now available at reduced prices of Rs 129,999, Rs 104,999, and Rs 84,999 for the S1 Pro, S1 Air, and S1 X+, respectively, until the end of February. 

Ola Electric, having recently secured eligibility for the government’s production-linked incentive (PLI) scheme, is benefiting from government subsidies ranging from Rs 15,000 to Rs 20,000 per scooter granted under PLI. 

The company’s continued market dominance is evident as it holds over 40% market share among EV manufacturers in India, having sold more than 32,293 scooters in January alone. 

Ola Electric’s strategic move towards affordability was further demonstrated by the introduction of its S1X scooters, priced at Rs 79,999 per unit. The company, with manufacturing capabilities in Krishnagiri, Tamil Nadu, is set to double its production capacity in the coming months, aiming for a future capacity expansion to 10 million units per annum.

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