Ola Electric has regained its position as the top-selling electric two-wheeler scooter in India with around 25 percent market share, founder and chairman Bhavish Aggarwal said on January 31, adding competitors "jumped the gun" but “we are back”.
"Competitors jumped the gun last month but we are back to the top spot. It is great to see such competition in the industry but we are back," he said at the company's Gen 3 scooter launch in Bengaluru on January 31.
Last month, Ola Electric was pushed to the third spot, as Bajaj and TVS reported higher sales.
According to the latest Vahan data, Ola Electric recorded 22,656 registrations in January, marking an impressive 65 percent month-on-month growth.
On January 31, the firm also launched its S1 Gen 3 portfolio, with the new lineup starting at Rs 79,999 for the S1 X (2kWh) and going up to Rs 1,69,999 for the flagship S1 Pro+ 5.3kWh (introductory prices).
At the core of the new portfolio is the S1 Pro+ 5.3kWh, featuring the 4680 Bharat Cell, priced at Rs 1,69,999, alongside a 4kWh variant at Rs 1,54,999.
The S1 Pro, available in 4kWh and 3kWh battery configurations, is priced at Rs 1,34,999 and Rs 1,14,999, respectively.
The S1 X range starts at Rs 79,999 for the 2kWh variant followed by Rs 89,999 for 3kWh and Rs 99,999 for 4kWh. The S1 X+ (4kWh) is priced at Rs 1,07,999.
Ola Electric also announced that its Gen 2 scooters would continue to retail with discounts of up to Rs 35,000.
The revised starting price for S1 Pro is Rs 1,14,999, while the S1 X (2kWh, 3kWh, and 4kWh) models are now available at Rs 69,999, Rs 79,999 and Rs 89,999, respectively.
"With Gen 2, we made our scooters smarter, and more accessible by expanding our portfolio with scooters for every Indian across every price range. Today, with Gen 3, we are taking the EV 2W industry to the ‘Next Level’. Gen 3 is bringing unmatched performance, superior efficiency and reinventing benchmarks we set for ourselves, and which will change the industry all over again," Aggarwal said.
At 12.58 pm, the Ola Electric stock was trading at Rs 73.47 on the National Stock Exchange, up 10 percent from the previous close.
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