Ola Electric Offers Big Discount on its Electric Scooters

Among the big electric two-wheeler companies, Ola Electric has offered big discounts on its electric scooters in July. The company has the highest share in this segment. Its S1 Pro, S1 Air, S1 X and S1 X+ electric scooters will get a discount of up to Rs 20,000 in July.

There is a discount of up to Rs 15,000 on the company’s S1 Air and S1 Pro. The price of S1 Air is around Rs 1.01 lakh (ex-showroom) and S1 Pro is Rs 1.29 lakh (ex-showroom). Apart from this, a discount of Rs 12,500 is being given on S1 X. Its price starts from Rs 75,000 and it is available in two battery packs. Its range is up to 190 kilometers. Ola Electric The maximum discount of Rs 20,000 is on the S1 X+. This electric scooter has a 3 kW battery. Its range is about 151 km. Its price is around Rs 85,000 (ex-showroom).

Last month, Ola Electric’s sales grew by almost 107 percent on a year-on-year basis. In June company 36,716 units of Ola Electric’s electric scooters have been registered. The company claims that its share in this segment is around 46 percent. Ola Electric’s sales have increased by about 57 percent in the first quarter of the current financial year. The company’s sales have been more than two lakh units in the first half of this calendar year. It has become the first electric two-wheeler company to reach this figure in such a short period. Last month, the company updated its S1 X electric scooter with new features.

These features include Find My Scooter and Vacation Mode. This electric scooter will not have to be taken to the service center for software updates. Vacation mode is activated when the customer does not use the electric scooter for a long period. Recently, Ola Electric got approval from markets regulator SEBI for the Initial Public Offer (IPO). Through this IPO, the company will raise about Rs 5,500 crore. This fund is planned to be used for capital expenditure, repayment of debt and research and development (R&D). Sales of electric two-wheelers have grown rapidly in the last few years.