Ola Electric Slashes Prices of Battery-Powered Scooters by Up to Rs 25,000
Ola Electric Slashes Prices of Battery-Powered Scooters by Up to Rs 25,000
In February, Ola Electric reduced the price of its battery-powered scooters by up to Rs 25,000, following Tata Motors’ recent reduction in Battery Electric Vehicle (BEV) prices. The Bangalore-based electric vehicle (EV) startup attributes this price cut to its strong cost structures, in-house technology, manufacturing capabilities, and eligibility for manufacturing incentives.
Starting February 16, the S1 Pro, S1 Air, and S1 X+ models are now priced at Rs 129,999, Rs 104,999, and Rs 84,999, respectively, until the end of the month.
Recently, ”Ola Electric is preparing for an IPO and has received certification for its second product under the Production-Linked Incentive (PLI) scheme for the automobile and auto component industry.” This certification makes Ola S1 Pro and Ola S1 Air eligible for government subsidies for five years under the Auto PLI scheme.
Ola Electric stated its commitment to Advancing electric vehicle adoption with the hashtag #EndICEAge, aiming to make EVs more affordable and accessible. The company stated ”These reduced prices bring its scooters in line with leading Internal Combustion Engine (ICE) scooters, providing customers with a compelling reason to choose an electric scooter.”
Chairman and Managing Director of Ola Electric, Bhavish Aggarwal, announced ”The special discount on X (formerly Twitter), effective from February 16 until the end of the month.” He emphasized Ola Electric’s dedication to breaking barriers and making electric vehicles more accessible.
Earlier in January, Ola Electric had introduced a similar scheme, offering a 50 per cent discount on extended warranty and up to Rs 2,000 exchange bonus for the S1 Air and S1 Pro models.
Industry experts view Ola Electric’s decision to pass on benefits to consumers as a strategic approach to make electric mobility more accessible in the Indian market.
According to Uday Narang, Founder and Chairman of Omega Seiki Mobility, ”Sees this move as part of the broader industry trend towards a positive downward price trend as the electric vehicle market matures and strengthens its ecosystem, ultimately driving increased adoption in the country.”
