Jeep to produce and Export EVs from India | Aligning with “Make in India”
H. Karan Kumar
Updated on Sept 19, 2023 | 6 min read
Ola Electric, the IPO-bound Indian electric vehicle (EV) startup, recently made waves in the market with a significant price cut on its two-wheeler scooters. This strategic move aimed to boost adoption and attract more customers to their eco-friendly vehicles. The price reduction, amounting to around Rs 25,000 per unit, has resulted in a surge in sales for Ola Electric. The company has sold approximately 10,000 scooters in just three days, averaging over 3,000 daily units. Let’s delve deeper into this exciting development and explore the factors behind Ola Electric’s success.
The Impact of Price Reductions
Boosting Sales Amidst Growing Demand
The decision to slash prices on Ola Electric’s S1 Pro, S1 Air, and S1 X+ scooters has significantly impacted sales. The company’s reshuffling prices have led to a three-fold increase in scooter sales, with an average of 10,000 units sold in 72 hours. This surge in demand showcases the effectiveness of price reductions in driving consumer interest.
Government Incentives and Production-Linked Incentive (PLI) Scheme
The price reduction comes at an opportune time for Ola Electric, as the company recently became eligible for the government’s production-linked incentive (PLI) scheme. S1 Air and S1 Pro have received the PLI certification, granting Ola Electric benefits of Rs 15,000 to Rs 20,000 per scooter. This government support, combined with the price cut, has further incentivised customers to choose Ola Electric scooters over competitors.
Ola Electric’s Competitive Advantage
Market Share Dominance
Ola Electric has been a frontrunner in the Indian EV market, consistently maintaining a higher market share than its competitors. The company sold over 32,293 scooters in January alone, securing a 40% market share. This achievement surpassed TVS Motor’s sales of 15,279 units and Bajaj’s 10,855 units, solidifying Ola Electric’s position as a market leader in the EV sector.
Diversifying the Product Portfolio
Ola Electric has been expanding its product portfolio to accelerate adoption and cater to a wider range of customers. The company recently introduced the S1X scooters, an affordable range priced at Rs 79,999 per unit. Ola Electric aims to attract a broader customer base and cater to different budget preferences by offering more options at various price points.
The Ola Electric Advantage
Robust Cost Structures and Manufacturing Capabilities
Ola Electric’s ability to reduce prices without compromising quality stems from its robust cost structures, vertically integrated in-house technology, and efficient manufacturing capabilities. These advantages enable the company to provide affordable electric scooters without compromising on performance or features.
Future Expansion Plans
With a 1 million electric vehicles per annum manufacturing capacity in Krishnagiri, Tamil Nadu, Ola Electric is poised for significant growth. The company plans to double its capacity in six to nine months, reaching 2 million units annually. This ambitious expansion underscores Ola Electric’s commitment to meeting India’s increasing demand for electric vehicles.
Conclusion
Ola Electric’s recent price reduction on its two-wheeler scooters has proven to be a game-changer in the Indian EV market. The surge in sales, combined with the company’s dominant market share and competitive advantages, demonstrates the effectiveness of strategic pricing decisions in driving consumer interest. With government support and plans for further expansion, Ola Electric is well-positioned to maintain its leadership in India’s evolving electric mobility landscape.
Featured Articles
Bounce Infinity E1 Price, Range, Specs, & Features – 2024
H. Karan Kumar
Updated on Sept 19, 2023 | 6 min read
Bounce Infinity at a glance:
The Bounce Infinity E1 electric scooter is a compelling choice for eco-conscious commuters seeking a blend of style, performance, and affordability. With its sleek design, impressive range, and a host of smart features, the E1 promises a delightful riding experience in the urban jungle.
At the heart of the E1 lies a robust 2 kW motor that delivers a spirited 55 kmph top speed, ensuring you easily navigate city streets. The scooter’s 2.5kWh Li-ion battery boasts a remarkable range of up to 100 km, keeping you on the move without range anxiety. Moreover, the E1 features regenerative braking, which intelligently converts braking energy back into battery power, extending your range further.
Planning to set up a Charging station?
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Bounce infinity specifications:
Bounce Infinity Dimensions:
| Kerb weight | 94kg |
| Load Capacity | – |
| Seat height | 780mm |
| Wheel-base | 1260mm |
| Ground clearance | 155mm |
Bounce Infinity Dimensions:
Kerb weight | 94kg |
Load Capacity | – |
Seat height | 780mm |
Wheel-base | 1260mm |
Ground clearance | 155mm |
Bounce infinity features
- Drive Modes: Eco, Power and Turbo,
- Cruise Control
- Turbo Mode with Hill Assist
- Over Temperature Audio Alarm
- Digital Console
- Smartphone app support
- Combi Brake System
- 12 L boot space.
- Regenerative Braking system
Bounce Infinity price and warranty:
With a 100km range and 55km/h top speed, this scooter comes among the average segment electric scooters. The Bounce Infinity E1 is priced at ₹1,12,999/- ex-showroom, but you don’t need to pay all upfront.
Now, Lease the Bounce E1 electric scooter for an easy monthly fee and enjoy perks like free maintenance, charging support, insurance, and much more.
Bounce Infinity E1 Warranty:
Bounce Infinity comes with the best-in-class warranty for both vehicle and battery. Vehicle alone comes with 3 yrs/40000* Kms, whichever comes first. Battery alone comes with 3yrs/45000* Kms, whichever comes first.
Planning to set up a Charging station?
Connect with 1C for expert advice on EV chargers
How to book bounce infinity:
You can book the scooter by pre-booking it on the website and get it delivered by visiting the nearest Bounce Infinity showroom, but paying the full upfront cost is unnecessary. Now lease the Bounce Infinity electric scooter from Zecat and own the scooter for an easy monthly fee.
Here’s how to lease Bounce E1:
- Click on the button,
- Fill the form,
- Book the slot.
