Ola Electric, a Bengaluru-based Indian electric two-wheeler company, has lowered pricing across its S1 scooter line by up to INR 25,000. The firm announced this decision on the basis of a solid cost structure, vertically integrated in-house technology and production capabilities, and eligibility for manufacturing incentives.
A representative for Ola Electric stated, “At Ola, we are determined to #EndICEAge by removing all barriers to EV adoption and making EVs more cheap and accessible. In line with our objective to accelerate EV adoption across the country, we are providing unparalleled pricing across our S1 portfolio. We were able to reorganize expenses because to our strong vertically integrated in-house technology and production capabilities, and we opted to pass the savings on to consumers. We are certain that with prices comparable to leading ICE scooters, buyers will no longer have a reason to purchase an ICE scooter.”
Ola Electric was recently recognized as the first Indian 2W firm to acquire a Domestic Value Addition (DVA) certificate under the Production Linked Incentive (PLI) Scheme for the automotive and auto component industries. The PLI certification demonstrates how the company’s vertically integrated manufacturing capabilities, robust localised supply chain ecosystem, and government subsidies have helped it restructure costs and thus reduce scooter prices across the S1 portfolio, making them more affordable and accessible.
Ola Electric has launched a number of measures aimed at breaking down all obstacles to EV adoption, including goods, service, charging networks, and battery warranties. With the introduction of S1 X (4kWh), Ola Electric increased its line to six best-in-class products, ranging in price and catering to consumers with varying range requirements.
The business also announced the industry’s first 8-year/80,000-kilometer extended battery guarantee for the complete product line at no additional cost, addressing the most significant barrier to EV adoption by extending vehicle lifespans by twice that of ICE cars. Ola Electric wants to extend its service network by 50%, from 414 to ~600 centers nationwide by April 2024.
