Ola breaches 20,000 units in sales; becomes largest EV seller in India

Indian electric vehicle (EV) maker Ola breached the 20,000 units mark while reporting the sales of its S1 series of e-scooters. In addition, its overall sales grew by 60 per cent month-on-month (MoM). The company attributes this push in sales to the growth that came in during the festival season. 
 
Ola Electric a few weeks back claimed that it recorded 4x growth in its sales during Navratri festivities. The company reported that it sold one scooter every minute during this period. Additionally, Ola also launched its most affordable range of e-scooters on October 22.

Also WATCH BT Visual Story: Google 1TB Storage Free for Google Workspace Individual
 
The new Ola S1 Air electric scooter which is a trimmed down version of the Ola S1 and Ola S1 Pro is priced at Rs 84,999. The buyers will be able to book this range of e-scooters from February onwards and the deliveries are slated to begin from April 2023. 
 
India’s electric vehicle (EV) market is expected to grow at a compounded annual growth rate (CAGR) of 90 per cent in this decade to touch $150 billion by 2030, according to a report by consulting firm RBSA Advisors. 
 
The report further stated that India's shift to shared, electric and connected mobility could help the country save nearly one giga-tonne of carbon dioxide emissions by 2030. The Bhavish Aggarwal-led company, in the EV market, competes with the likes of TVS iQube, Bajaj Chetak, Ather 450X, and Hero Motocorp’s recently-launched VIDA V1 series.
 
After Ola, Okinawa is the second largest seller of EVs in India. The company sold 17,531 e-scooters in the month of October.

Also Read: Winter over for tech start-ups? Fund raising hits $15.7 bn in '22; deal volumes up 78% YoY

Also Read: MapMyIndia Q2 profit flat at Rs 25.40 cr, revenue up 34.6%

Also Read: Fired Byju’s employees get 15-day notice period to serve as layoffs begin