Ola Electric has announced that the company’s sales have surpassed 20,000 units for the third consecutive month in November 2022. The electric scooter maker is currently leading the premium electric scooter segment ( $1 lakh or more) in India and holds a 50% market share in both ICEs and EVs. In contrast, the opponent atherogenic energy sold 7,234 units in November of this year, while TVS sold more than 10,000 iQube units last month.
Speaking of strong volume, Bhavish Aggarwal, Founder and CEO, Ola “The end of the ICE era is now a reality. The complete dominance of electric vehicles in the premium scooter segment shows that the only reason customers still consider ICE vehicles today is due to the lack of world-class electric vehicle alternatives. We will continue to aggressively build and expand products across multiple segments and price points, and lead India’s two-wheeler industry’s transition to 100% electric vehicles by 2025!”
Ola says electric vehicles currently have a 92 percent market share in the premium scooter segment, which will stand at just 36 percent in 2021, before the company forays into the sector. In addition to Ola, companies including Ather, Okinawa, Okaya, TVS, Ampere and many others have retail sales of electric scooters in the premium scooter segment.
Ola’s strong expansion is also helping the manufacturer to achieve better numbers every month. The company is rapidly expanding its presence network and recently opened its 50th experience center in the country. The manufacturer has also accelerated its plan to open 200 experience centers by the end of December 2022 compared to the previous milestone of January 2023. The brand also plans to bring newer services including vehicles. e-scooters and new motorcycles for the next few years to years. Ola is working on an electric car that has recently been revealed several times in the past. All products will be rolled out of the company’s future factory in Krishnagiri, Tamil Nadu.
Date of first publication: December 1, 2022, 16:29 pm IST