Ola Slashes E-Scooter Prices Up to 12.5%: Ola Electric, the biggest electric scooter maker in India, has reduced the price of its most affordable scooter by up to 12.5%. This move comes after the Indian government cut subsidies for electric vehicles.
Ola Electric Slashes E-Scooter Prices
In an effort to boost sales after government subsidies were reduced, Ola Electric, India’s leading electric scooter manufacturer, cut the price of their cheapest scooter by 12.5%. The price of the base model S1X scooter went down from 79,999 rupees to 69,999 rupees (around $839). Other models in the S1X line also saw price reductions between 5.6% and 9.1%.
Price Drop for India’s Top E-Scooter Brand – Ola Slashes E-Scooter Prices Up to 12.5%
- Despite launching the S1X scooters just after the government cut electric scooter subsidies, Ola Electric (funded by SoftBank Group) is now reducing prices even further. This aggressive strategy worries some analysts.
- They believe Ola was already losing money on higher-priced S1X models, and this new price cut for the base model might be unsustainable in the long run.
Ola Electric Maintains Lead in Growing Indian E-scooter Market – Ola Slashes E-Scooter Prices Up to 12.5%
- Ola Electric, a Bengaluru-based company, sold 326,443 electric scooters in fiscal 2024, exceeding their revised target of 300,000 units.
- Ola offers the most affordable electric scooter in India compared to competitors like TVS and Ather, undercutting even popular petrol options like Honda’s Activa.
- This competitive pricing strategy has helped Ola capture a leading 35% market share in the Indian electric scooter market, which is currently experiencing significant growth (5% of total two-wheeler sales). TVS and Ather hold 19% and 12% market share respectively.