After Tata Now Ola Electric Slashed prices of its E-scooters
H. Karan Kumar
Updated on Sept 19, 2023 | 6 min read
The electric vehicle (EV) market in India is witnessing a significant disruption, with companies like Tata Motors and Ola Electric leading the way. Following Tata’s footsteps, Ola Electric has recently announced a significant price reduction for its S1 range of electric scooters, making them even more affordable and accessible to the masses. In this article, we will delve into the details of Ola Electric’s price slash and its impact on the EV market in India. \
Ola Electric Slashes Prices of S1 Range
Ola’s updated prices
E-Scooter | Old Price | New Price | Price Cut |
Ola S1 Pro | 1,47,499 | 1,29,999 | 17,500 |
Ola S1 Air | 1,19,999 | 1,04,999 | 15,000 |
Ola S1X+ | 1,09,999 | 84,999 | 25,000 |
Ola Electric has taken a bold step to make electric mobility more affordable by reducing the prices of its S1 scooter range by Rs 25,000. This price cut is effective only for February and applies to three models: S1 X+, S1 Air, and S1 Pro. The S1 X+ has seen the most significant reduction, from Rs 1.09 lakh to Rs 84,999. The S1 Air’s price has been reduced from Rs 1.19 lakh to Rs 1.05 lakh, while the S1 Pro is now priced at Rs 1.30 lakh, down from Rs 1.48 lakh.
Ola Electric’s Strategy to Drive Adoption
The price reduction by Ola Electric is not just a promotional offer but a strategic move to accelerate the adoption of electric scooters in India. The company aims to make electric mobility more accessible to a broader audience by offering competitive pricing without compromising quality and performance. Ola Electric’s CEO, Bhavish Aggarwal, believes this price cut will be crucial in converting more people to electric scooters and driving the country towards a sustainable future.
The Impact on the EV Market
Ola Electric’s decision to slash prices is expected to impact the overall EV market in India significantly. Here are some potential outcomes:
Increased Affordability
The reduced prices of Ola Electric’s S1 range will make electric scooters more affordable for a more significant population segment. This move will attract customers who were previously hesitant due to the high initial cost of purchasing an electric vehicle. The price reduction will also make EVs more competitive with traditional petrol-powered scooters, further driving the adoption of electric mobility.
Enhanced Competition
Ola Electric’s price cut puts pressure on other players in the EV market to respond with their own competitive pricing strategies. This could lead to a price war among companies, ultimately benefiting customers with a broader range of affordable electric scooters. Increased competition will also drive innovation and technological improvements, further boosting the growth of the EV market.
Boosting Infrastructure Development
As more people choose electric scooters, the demand for charging infrastructure will increase. Ola Electric’s price reduction is expected to spur the development of more charging stations across the country. This will address one of the critical concerns of potential EV buyers – range anxiety. With a robust charging network, people will be confident to switch from conventional scooters to electric ones.
Ola Electric’s Growth Plans
Ola Electric has ambitious plans to expand its presence in the Indian market. By the end of the year, the company aims to have 10,000 electric two-wheelers deployed in three cities. It also plans to gradually expand its services nationwide, making electric scooters accessible to people nationwide. Ola Electric’s commitment to building India’s largest EV 2W fleet further reinforces its dedication to revolutionising how people commute.
Conclusion
Ola Electric’s decision to slash prices of its S1 range of electric scooters marks a significant milestone in the Indian EV market. The reduced prices will make electric mobility more affordable and attractive to a more considerable population segment. This move is expected to accelerate the adoption of electric scooters, boost infrastructure development, and positively impact the environment—Ola Electric’s innovative approach and commitment to sustainability position it as a game-changer in the EV industry. As more companies follow suit, the future of electric mobility in India looks brighter.
